The decision not to go through with changing the name of the Consumer Financial Protection Bureau (CFPB) in light of the high estimated industry costs associated with the move certainly could be described as “reasonable,” as could CFPB Director Kathy Kraninger’s thoughts on why the change is unnecessary.
Ironically, the rebranding initiative was undertaken by acting director Mick Mulvaney, whose “reasonable” leadership approach the financial industry has urged Kraninger to continue. One industry expert told Dodd Frank Update he believes Kraninger handled the “ridiculous” rebranding issue “artfully and appropriately.”
Find out how Kraninger’s reasoning on the matter differs with Mulvaney’s.