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The Senate on Thursday approved President Trump’s nominee to lead the Consumer Financial Protection Bureau, ushering in business-friendly leadership for a polarizing watchdog agency long detested by Republicans and the banking industry.
The chamber voted 50 to 49, along party lines, to finalize Kraninger’s nomination.
The article goes on to state the following:
Kathy Kraninger will replace the bureau’s acting director, Mick Mulvaney, who is also the White House budget chief and Kraninger’s current boss. Her nomination took much of Washington by surprise. Kraninger, currently the associate director of general government at the Office of Management Budget, has no experience in consumer finance but now will become one of the country’s most powerful banking regulators.
Senate confirms Kathy Kraninger as head of Consumer Financial Protection Bureau; she is expected to curtail agency’s powers https://t.co/StGMW6WjPn
— The Washington Post (@washingtonpost) December 6, 2018
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