Senate Likely to Vote on Kraninger After Thanskgiving Break

Published on:
19 November 2018 at 12:00 p.m. ET

Written by: Katie Grzechnik Neill – General Counsel & Regulatory Editor – insideARM

http://www.insidearm.com/news/00044510-senate-likely-vote-kraninger-after-thansk/

The Senate will likely vote on the confirmation of Kathy Kraninger as the next Director of the Bureau of Consumer Financial Protection. On November 14, 2018, Senate Majority Leader Mitch McConnell (R-KY) filed cloture for the Kraninger confirmation, which indicates a vote will occur soon.

The Senate Banking Committee approved Kraninger's nomination on August 23, 2018, voting squarely on party lines. The Senate Banking Committee's vote was preceded by a confirmation hearing held in July 2018 as well as some push back from Sen. Elizabeth Warren (D-MA).

insideARM Perspective

The wildcard here is whether a leadership change (from Acting Director Mulvaney to a permanent Director Kraninger) would have any effect on the schedule to release a Debt Collection Notice of Proposed Rulemaking (NPRM). The last two scheduling updates have maintained the March 2019 target, and every indication from Bureau staff is that they are working to make that deadline.

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