Kraninger Archives - Page 2 of 2 - Americans for Financial Reform

Letter to Regulators: Comprehensive Comment On CFPB’s Proposal To Repeal Payday Rule

The Proposal—a plainly outcome-driven, 47-page exercise in grasping for straws—has offered no reasonable basis to rescind that Rule. Based on a distorted focus on the Rule’s “dramatic impacts” on lenders’ ability to engage in a predatory practice, rather than on the need to protect consumers, the Proposal claims that the evidence must somehow be “more robust.” If the Rule requires significant changes for payday and vehicle title lenders, it is because the harm to consumers is dramatic. The Bureau’s new approach would ignore its consumer protection mandate and require the agency to hesitate when consumer harm is the most severe.

Congressional Testimony: AFR Senior Policy Counsel Linda Jun Testifies before House Financial Services Committee

On March 7, 2019, AFR Senior Policy Counsel Linda Jun offered testimony at a hearing entitled: “Putting Consumers First: A Semi-Annual Review of the Consumer Financial Protection Bureau” before the House Financial Services Committee.

News Release: Ahead Of Kraninger Hearing, Advocates Demand To Know Why CFPB Is Attacking Consumer Protections

Today, CFPB Director Kathy Kraninger is set to testify in front of the House Financial Services Committee, marking her first oversight hearing since being narrowly confirmed last December. Kraninger will now have to answer to a new chair, Rep. Maxine Waters, and a majority that is demanding answers to why the agency has sided with the industry over consumers.

News Release: Consumer Groups Strongly Oppose CFPB Product Sandbox Proposal

A group of 80 consumer, civil rights, legal services, labor, environmental, and community groups today expressed their strong opposition to the proposed changes to the Consumer Financial Protection Bureau’s no-action letter policy and its proposed product sandbox.

Joint Statement: Advocates Urge Consumer Bureau To Protect Consumers From Abusive Debt Collectors

Advocates from 74 national and state advocacy groups sent a letter yesterday afternoon to new Consumer Financial Protection Bureau Director Kathy Kraninger urging the bureau to focus on protecting consumers from abusive debt collection practices in anticipation of a proposed debt collection rule expected in March 2019.

Joint Letter: Specific Recommendations To Protect Consumers Through Ongoing Rulemaking On Debt Collection

As we approach the fifth year anniversary of the proposed rulemaking on debt collection, and the regulatory process appears to be moving forward, the 74 undersigned consumer, community, civil rights, faith, labor and legal services groups write to urge the Consumer Financial Protection Bureau (“Consumer Bureau”) to focus on protecting consumers from abusive debt collection practices in any rule that it issues.

News Release: Senators Must Reject Kraninger Nomination

Kathy Kraninger has put no daylight whatsoever between herself and Mick Mulvaney, who has done his level best to dismantle from within an agency that once won real results for American families hurt by Wall Street and predatory lenders. He has subverted, not advanced, the mission of consumer protection for which Congress created the CFPB.

Joint Letter: Dozens of Civil Rights & Consumer Advocates Urge “NO” Vote on Kraninger for CFPB Director

“In fulfilling its vital mission to protect consumers from deceptive and unfair financial practices, the Bureau needs a Director who is a champion of consumer protection and an advocate for the rights of ordinary Americans against the predations of big banks and unscrupulous market actors. Ms. Kraninger has shown no track record and given no indication in her confirmation hearing or public statements that she would defend the interests of consumers. For that reason we cannot support her nomination.”

AFR Statement: Hearing Shows Kraninger is No Champion of Consumers

There was no evidence before her confirmation hearing that Kathy Kraninger would champion the interests of consumers, and there’s no evidence of it afterwards either.