Senate Dems skeptical of watchdog nominee
Trump appointee evades questions in committee hearing
WASHINGTON — President Trump’s nominee to take over the nation’s consumer watchdog agency exasperated some Democrats with vague answers at a Senate Banking Committee hearing Thursday, but Kathy Kraninger appears to be on her way to getting confirmed later this year.
Republicans hold a majority in the Senate, so Kraninger’s confirmation seems all but certain.
Trump nominated Kraninger on June 18 to replace Mick Mulvaney, who has been acting director of the Consumer Financial Protection Bureau since late November. Mulvaney also runs the Office of Management and Budget, where Kraninger works. She oversees roughly $250 billion in spending on federal government programs.
Democrats who have questioned Kraninger’s qualifications to lead the CFPB since her nomination pressed her Thursday on her lack of experience in banking or financial services, as well as issues such as payday lending and enforcement actions against financial institutions. Under Mulvaney, the agency has taken a more business-friendly approach, and Democrats assume Kraninger will do the same.
Kraninger appeared noncommittal on issues raised by senators on both sides of the aisle. Republicans seemed nonplused, but Democrats grew frustrated.
“You got the votes to lead the agency,” said Sen. Jon Tester, D-Montana, referring to Republican control of the Senate and the fact that Democrats cannot filibuster the nomination. “It would be really helpful to know where you’re at.”
“I am trying to get an answer from you, and I just can’t. It’s maddening,” said Sen. Brian Schatz, D-Hawaii.