Trump Taps Budget Official to Head Consumer Financial Protection Bureau

The White House on Saturday said it would nominate Kathy Kraninger, a high-level staffer at the Office of Management and Budget, to be director of the Consumer Financial Protection Bureau.

If confirmed by the Senate, Kraninger would replace her boss, OMB Director Mick Mulvaney, who has drawn criticism from Democrats for weakening the watchdog agency. Kraninger “will bring a fresh perspective and much-needed management experience to the [agency], which has been plagued by excessive spending, dysfunctional operations, and politicized agendas,” Lindsay Walters, the White House deputy press secretary, said in a statement.

“As a staunch supporter of free enterprise, she will continue the reforms of the Bureau initiated by Acting Director Mick Mulvaney, and ensure that consumers and markets are not harmed by fraudulent actors,” Walters said.

Kraninger is an unexpected choice for the position. Kraninger, an associate director at the OMB, previously worked for the Department of Homeland Security and the Senate Appropriations Committee, but has no previous experience as a consumer watchdog. She is “wholly unqualified,” said Karl Frisch, executive director of Allied Progress, an advocacy group.