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Trump’s CFPB called to account for failing to protect consumers

Source: Terri Friedline, The Intercept

Chair Maxine Waters opened the House Committee on Financial Services hearing with a frustrate and ominous message: “I would like to welcome Director Kraninger to what I hope will be her last appearance before this committee as CFPB director.”

Kathy Kraninger was being called to account for the Consumer Financial Protection Bureau’s failure to protect consumers during the coronavirus pandemic. In separate House and Senate hearings, committee members levied their sharpest criticisms against the agency’s plan to deregulate small-dollar lending by repealing key consumer protections on predatory products like payday and auto title loans.

Read Full Article: Trump’s CFPB called to account for failing to protect consumers


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