Rounds on Meeting with CFPB Director Nominee Kathy Kraninger
Rounds and Kraninger meet in Rounds’ Washington, D.C., office on June 27, 2018
WASHINGTON—U.S. Sen. Mike Rounds (R-S.D.), a member of the Senate Banking Committee, today issued the following statement following his meeting with Kathy Kraninger, nominee to be director of the Consumer Financial Protection Bureau (CFPB).
“A product of Dodd-Frank, the CFPB was set up by the previous administration to be an unaccountable regulatory agency with no oversight from Congress,” said Rounds. “Under Acting Director Mick Mulvaney, the agency has charted a new course by rolling back harmful rules and bringing much-needed accountability and transparency to the agency. I believe Ms. Kraninger is an excellent choice to continue shaping this new path for the CFPB. If confirmed, I look forward to working with her in the future.”
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“‘A product of Dodd-Frank, the CFPB was set up by the previous administration to be an unaccountable regulatory agency with no oversight from Congress,’ said Rounds.”
But the CFPB is an agency created by an act of Congress and not the Obama administrate by fiat…. (?)