Senate Committee Advances CFPB, Ex-Im Nominees

The Senate Banking Committee today voted to advance the nominations of Kathy Kraninger as director of the Consumer Financial Protection Bureau and Kimberly Reed as president of the U.S. Export-Import Bank. The committee approved Kraninger’s nomination by a party-line 13-12 vote, while Reed’s nomination was approved unanimously.

American Bankers Association President and CEO Rob Nichols welcomed the news. “During her confirmation hearing, Ms. Kraninger detailed her substantial government and management experience that would help her lead the bureau, and she committed to satisfying the bureau’s mandate of ensuring consumers have access to financial products and services that are ‘fair, transparent and competitive,’” he said. “We welcome that commitment and her pledge to maintain transparency and accountability if confirmed.”

Kraninger is currently an associate director at the Office of Management and Budget, where she is responsible for financial regulatory agency budgets. She previously served as Senate staff on Capitol Hill and at the Department of Homeland Security. Reed is a former president of the International Food Information Council Foundation and had earlier been approved for a seat on the Ex-Im board by the committee.