Kathy Kraninger, a deputy of Office of Management and Budget Director Mick Mulvaney, is said to be the White House’s preferred candidate to take over Mulvaney’s secondary role as head of the Consumer Financial Protection Bureau.
Kraninger worked at the Department of Homeland Security before joining Mulvaney at OMB as an associate director in 2017, and according to Bloomberg, is expected to soon be formally nominated to be the CFPB’s new, permanent director.
The New York Times reported that Kraninger secured President Trump’s favor off a recommendation from National Economic Council staff member Andrew Olmem.
Rep. Darrel Issa, R-Calif., and Todd J. Zywicki, a conservative law professor at George Mason University, have also been floated as potential replacements for Mulvaney at CFPB.
Mulvaney has slowly worked to undermine the CFPB since he was tapped by Trump in March 2017 to serve as acting director.
[Also read: Democrats refuse to recognize Mick Mulvaney as CFPB leader]
In April, he gave the agency a new name, yet the “Bureau of Consumer Financial Protection” has not caught on outside of the Trump administration. Mulvaney claimed the he changed the name in order to align with the 2010 statute that instituted the agency, in addition to “send[ing] a message” about following the law.
Additionally, earlier this month, he fired all 25 members of a CFPB advisory board for criticizing his leadership.
