House Financial Services Committee to Hold Review Hearing of CFPB, Kraninger Included as Witness

The House Financial Services Committee (Committee), now led by Rep. Maxine Waters (D-CA), will hold a hearing titled “Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau” on March 7. According to The Hill, Rep. Waters confirmed that Director Kathy Kraninger is a witness for this hearing.

The name of the hearing suggests that this will be an ongoing review by the Committee in its efforts to oversee the Consumer Financial Protection Bureau (CFPB or Bureau).

Rep. Waters has long stated that her focus as chairwoman of the Committee would be on the CFPB. Just last week, Rep. Waters sent a letter to Bureau employees denouncing Former Acting Director Mulvaney’s actions and urging staff to act as whistleblowers if they see something amiss at the Bureau. Earlier in February, Rep. Waters sent a letter to Director Kraninger questioning the lack of restitution for consumers in recent settlements the Bureau reached with financial services companies.