Washington, D.C.— Today, the Senate confirmed Kathleen Kraninger as the next director of the Consumer Financial Protection Bureau (CFPB). As a central player in the Trump administration’s disastrous “zero tolerance” family separation policy, and with her deep ties to for-profit college champion Mick Mulvaney, Kathleen Kraninger has proven to be in direct opposition to the well-being of America’s youth. Charlotte Hancock, communications director for Generation Progress, released the following statement:
Kathleen Kraninger was a key player in one of the cruelest policies in modern American history. Her work in the Office of Management and Budget (OMB) overseeing the Administration’s “zero tolerance” family separation policy led to the separation of more than 2,600 children from their families. This tragedy is still ongoing with hundreds of children being detained indefinitely, unable to see their parents. At the OMB, she served under Mick Mulvaney, a defender of big banks, for-profit schools, and payday lenders. Her close ties to Mick Mulvaney mean that she will continue his mission of transforming the Bureau from consumer watchdog to a subsidiary of Wall Street. As acting director of the CFPB, Mick Mulvaney has failed to defend student loan borrowers cheated by shady for-profit colleges, protected loan servicers from federal oversight, and gutted the Office of Students and Young Consumers. There’s absolutely no evidence that Kathleen Kraninger would be any different. Young people deserve someone who will fight for them and their families. Young people need leaders who will keep their families together, protect them from predatory institutions, and defend student loan borrowers from bad actors.
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