Kraninger Resigns as CFPB Director

Consumer Financial Protection Bureau Director Kathy Kraninger today announced her resignation as head of the agency. Kraninger was tapped to lead the CFPB in 2018 by President Trump. Nominally appointed to a five-year term, the CFPB director was held by the Supreme Court in 2020 to be removable at the pleasure of the president.

President Biden over the weekend said he intends to nominate Rohit Chopra, a Democratic member of the Federal Trade Commission who was a member of the launch team for the CFPB, as the bureau’s next director. In the meantime, Biden designated Dave Uejio, the CFPB’s chief strategy officer, as acting director.