7/19/2018

CONSUMER PROTECTION/IMMIGRATION/NOMINATIONS/SENATE/TRUMP PEOPLE: “President Donald Trump’s choice to lead the U.S. consumer watchdog survived aggressive questioning by lawmakers on Thursday [7-19-18] and looked on track to secure a confirmation vote that could come as soon as this month. There were heated exchanges in the Senate as Democratic lawmakers grilled Kathy Kraninger, a government official, on her role in the administration’s ‘zero tolerance’ immigration policy and questioned whether she had relevant experience to lead the Consumer Financial Protection Bureau (CFPB). But Kraninger’s skillful handling of sometimes personal attacks tipped the odds of being confirmed in her favor, said Isaac Boltansky, director of policy research at Washington-based Compass Point Research & Trading…Republicans say the CFPB, which was created after the 2007-2009 financial crisis to protect consumers from predatory lenders, has overstepped its legal statute and are hoping to install a nominee who will rein it in…Democrats and even some conservative Republicans have said Kraninger, who is not well known in Washington, lacks relevant consumer finance experience, meaning her confirmation rested heavily on her performance before the Senate Banking Committee.”

Katanga Johnson, “Trump’s consumer watchdog pick defends record in Senate hearing,” Reuters, July 19, 2018 3:06 am