December 11, 2018

The Hill quotes Allyson Baker on the CFPB's year ahead under its new chief

1 min

On December 11, 2018, Allyson Baker was quoted in The Hill on the new director of the Consumer Financial Protection Bureau (CFPB), Kathy Kraninger, as she takes over the agency at a pivotal point—it is mired in controversy and faces mounting questions from both its supporters and its critics regarding how she will wield her immense powers as director.

Kraninger, who is a former White House budget official, was sworn in to serve a five-year term as director, inheriting an agency that has been at the center of a long fight between Republicans and Democrats over its mission.

Kraninger will now have unilateral control over the CFPB's enforcement and rulemaking actions, budget, and staffing, and thus will be a crucial player in the Trump administration in an era of deregulation.

"It's a little too soon to tell to make predictions about how's she going to be different or the same because she hasn't made a lot of public comments," said Ms. Baker.