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The Latest: Trump’s pick for consumer watchdog faces Senate

The Latest: Trump's pick for consumer watchdog faces Senate | iNFOnews.ca
Kathleen Kraninger, President Donald Trump's nominee to be the director of the Bureau of Consumer Financial Protection, testifies before a Senate Banking Committee hearing on her confirmation on Capitol Hill in Washington, Thursday, July 19, 2018. (AP Photo/Manuel Balce Ceneta)

WASHINGTON – The Latest on the confirmation hearing for Kathy Kraninger (all times local):

10:45 a.m.

President Donald Trump’s nominee to take over the nation’s consumer financial watchdog agency is appearing before the Senate Banking Committee Thursday.

The hearing for Kathy Kraninger is expected to be contentious along partisan lines.

Trump nominated Kraninger on June 18 to replace Mick Mulvaney, Trump’s budget director, who has been acting director of the Consumer Financial Protection Bureau since late November.

Democrats including Sen. Elizabeth Warren, D-Massachusetts, say Kraninger, a mid-level bureaucrat in the Office of Management and Budget, is ill-equipped to run the CFPB, which is charged with protecting consumers from bad behaviour by banks, credit card companies and payday lenders.

Republicans say Kraninger’s experience arranging programs for large government agencies qualifies her to run the CFPB.

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