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.