ABA Congratulates Kraninger on Senate Confirmation

By Rob Nichols, ABA president and CEO

“We congratulate Kathleen Kraninger on her Senate confirmation to lead the Consumer Financial Protection Bureau, and look forward to working with her to ensure consumers have access to and can make independent and informed choices among a wide variety of responsible financial products and services. We learned during her nomination hearing that she believes in promoting competition and appropriately tailoring regulations by taking into account both costs and benefits. We share those views, and believe those principles will benefit consumers while allowing banks to better serve their customers and innovate. 
 
“We also appreciate the Bureau’s reforms and outreach efforts under Acting Director Mick Mulvaney, particularly his work to gather input from stakeholders across the spectrum to make sure that rules and regulations are protecting consumers and promoting choice in the financial marketplace.
 
“Kraninger's management experience, her years of work on Capitol Hill and leadership roles in the executive branch will help her run the Bureau efficiently and hold it accountable to the American people. We wish her well in this important role.”

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The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend nearly $10 trillion in loans. Learn more at aba.com