As I wrote in a recent article about Kathy Kraninger's Senate hearing to discuss her nomination to lead the Bureau of Consumer Financial Protection (BCFP or Bureau), she didn't really say much. That isn't stopping Senator Elizabeth Warren (D-MA) from trying to get Kraninger to go on the record about a range of topics, including debt collection.
First, of note is that Senator Warren's office released a July 2018 report entitled Record of Failure; Kathy Kraninger's Disastrous Tenure at the Office of Managementand Budget. You can read it here. The report concludes,
Ms. Kraninger has no relevant experience in banking, finance, or consumer protection. The entire case for her nomination rests on her purported management abilities. Yet a close look at her record shows consistent mismanagement, often with devastating results for poor and vulnerable people. Her record does not justify a massive promotion to lead the federal agency charged with protecting consumers.
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