OMB official called Trump’s choice for consumer chief

WASHINGTON — A little-known Office of Management and Budget official is President Donald Trump’s leading candidate to become permanent director of the Consumer Financial Protection Bureau, four people with knowledge of the matter said.

If approved by the Senate, Kathy Kraninger would succeed her boss, White House Budget Director Mick Mulvaney, who has been leading the bureau part time since November.

The confirmation process could take months and Mulvaney has said he expects to be at the bureau until the end of the year.

Kraninger, an associate director at OMB, previously worked for the Homeland Security Department and the Senate Appropriations Committee

She’d inherit an agency that has been roiled by a shift to Republican leadership under Mulvaney from its roots as a scourge of financial firms under Obama administration appointee Richard Cordray, a Democrat who’s running for governor of Ohio.

The potential selection of Kraninger, which could be announced this week, is likely to raise concerns among Democrats.

While the White House wouldn’t confirm Kraninger will be the nominee, it has said the administration was seeking somebody with government management experience.