Se­nate ap­proves Trump pick for con­sumer agency

The Herald Sun - - Business -

In a party-line vote, the Se­nate ap­proved Pres­i­dent Don­ald Trump’s nom­i­nee to run the Con­sumer Fi­nan­cial Pro­tec­tion Bu­reau on Thurs­day, end­ing a six-month, highly par­ti­san bat­tle over the fate of the pow­er­ful con­sumer watch­dog agency.

The vote was 50-49 in fa­vor of ap­prov­ing Kathy Kraninger, who worked as a mid-level of­fi­cial in the White House’s bud­get of­fice, to a five-year term.

Kraninger has zero ex­pe­ri­ence in fi­nan­cial ser­vices and had never run a fed­eral agency be­fore, a crit­i­cism that made Democrats hos­tile to her nom­i­na­tion.

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