President Trump’s nominee to replace Mick Mulvaney at the Consumer Financial Protection Bureau, Kathy Kraninger, will get a confirmation hearing on July 19, the Senate Banking Committee announced Thursday evening.
The hearing is an important step forward in the confirmation of Kraninger, a former budget aide who lacks experience in the areas of banking or consumer finance.
Progressive groups have charged that Trump nominated Kraninger in the hopes of seeing her nomination falter in order to give Mulvaney, a hardcore conservative who also runs the Office of Management and Budget, more time running the bureau. On the other hand, key Senate Democrats have also pledged to stall her nomination.
Senate Republicans, however, are now moving forward with her nomination. Kraninger has met with senators, including Majority Leader Mitch McConnell, and received support even though she doesn’t have a background regulating finance.
“She’s smart, she’s well educated, I support her without reservation,” said Sen. Richard Shelby, R-Ala., for whom Kraninger worked as an aide on the Appropriations Committee.
“A lot of people don’t have that and do a great job,” Shelby said of Kraninger’s lack of experience. “She’s got good, sound judgment.”
