Leadership

An ending to the contentious consumer protection director battle?

A combative, months-long legal battle for leadership of the Consumer Financial Protection Bureau could be coming to an end.

The office will now have a permanent director, according to a White House announcement that President Donald Trump intends to nominate Kathy Kraninger to take over the post.

“Ms. Kraninger is currently an associate director of the Office of Management and Budget. She will bring a fresh perspective and much-needed management experience to the [Bureau of Consumer Financial Protection], which has been plagued by excessive spending, dysfunctional operations, and politicized agendas,” White House deputy press secretary Lindsay Walters said in a news release.

“As a staunch supporter of free enterprise, she will continue the reforms of the Bureau initiated by acting Director Mick Mulvaney and ensure that consumers and markets are not harmed by fraudulent actors. The White House hopes that she will be promptly confirmed by the Senate.”

Since the former deputy director of the CFPB, Richard Cordray resigned in November 2017, the leadership of the Bureau faced a tumultuous debate for control, as Leandra English, who was promoted to interim director of the Bureau as Corday left, battled for control with Mick Mulvaney, whom Trump appointed to temporarily lead until a permanent nominee was found.

The Washington, D.C., district court ruled in January 2018 that English could not receive an injunction against Mulvaney to prevent him from temporarily taking up the director’s post.

Mulvaney made news early in his tenure at CFPB by requesting zero funding from the Federal Reserve in January 2018, claiming that the Bureau had enough money in the bank to continue operations.

Kraninger had served under Mulvaney at OMB for just over a year before being named as the nominee for CFPB.

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