With the nomination of Kathy Kraninger – an associate director at the Office of Management and Budget (OMB) with no formal experience in banking, enforcement or dealing with consumer issues – it seems likely that Mick Mulvaney will not be exiting his interim leadership role at the bureau any time soon. Interestingly, as OMB director, Mulvaney currently is Kraninger’s boss.
Whether she is confirmed or not, Buckley Sandler Partner Ben Olson told Dodd Frank Update he thinks it will make little difference in how the bureau proceeds under the Trump administration.
Find out more about her nomination and what the industry is saying about her experience.