We write in opposition to the nomination of Kipp Kranbuhl to serve as Assistant Secretary for Financial Markets at the Department of Treasury. As Assistant Secretary for Financial Markets Mr. Kranbuhl would have broad responsibility for policies regarding financial regulation and financial markets, and for critical decisions regarding housing finance.

Unfortunately, his career is marred by a record of supporting dangerous deregulatory policies that have left our financial system ill equipped to face the economic challenges it is now confronted by. This includes efforts to weaken the Volcker rule that will further damage the resiliency of major financial institutions and a housing policy that treats market deregulation as the solution to our nation’s housing affordability crisis. He has endorsed rolling back crucial fair housing protections and undermining the enforcement of laws against discrimination, measures that threaten to make a bad situation even worse for millions of the most vulnerable people in the country.