In what direction will Kathy Kraninger take the Consumer Financial Protection Bureau (CFPB)? Just about everyone probably is wondering the answer to that question.
Will she continue the bureau’s “hear no evil, see no evil” stance adopted by acting director Mick Mulvaney? Or will she position the bureau as the consumer watchdog it had been under former Director Richard Cordray?
If Kraninger’s first publicized decision is any indicator; Americans may have gotten an arbiter of common sense.
Without disrespecting Mulvaney or President Donald Trump, Kraninger put a halt to an initiative to change the name of the CFPB to the Bureau of Consumer Financial Protection, as Mulvaney had suggested was the name established by Dodd-Frank.
Whether Mulvaney was right or wrong, in this case, was irrelevant. The questions Republicans should have been asking is: “Is the money and time needed to make this change worth it?”
The answer to that question, Kraninger determined, is no. The expensive name change would not have changed or altered the CFPB’s mission one iota. And it would have rightfully been seen as politicians once again sticking it to taxpayers and corporations, right alongside HUD Secretary Ben Carson‘s conference table fit for a king and former HHS Secretary Tom Price’s use of private charters and military aircraft for travel.
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The Title Report Editor
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