Kathy Kraninger facts for kids
Quick facts for kids
Kathy Kraninger
|
|
|---|---|
.jpg) |
|
| 2nd Director of the Consumer Financial Protection Bureau | |
| In office December 11, 2018 – January 20, 2021 |
|
| President | Donald Trump |
| Deputy | Thomas Pahl Brian Johnson |
| Preceded by | Richard Cordray |
| Succeeded by | Rohit Chopra |
| Personal details | |
| Born | December 28, 1974 Pittsburgh, Pennsylvania U.S. |
| Political party | Republican |
| Education | Marquette University (BS) Georgetown University (JD) |
Kathleen Laura Kraninger (born December 28, 1974) is an American government official. She was the director of the Consumer Financial Protection Bureau (CFPB) from December 2018 to January 2021. Before this, she worked in the White House Office of Management and Budget during the Trump administration.
Contents
Early Life and School
Kathy Kraninger was born in Pittsburgh, Pennsylvania. She grew up in Chagrin Falls, Ohio.
College and Early Work
She went to Marquette University from 1993 to 1997. While in college, she worked as an intern for Sherrod Brown, who was a U.S. Representative at the time. In 1997, she graduated from Marquette with high honors. She earned a Bachelor of Science degree in political science and history.
After college, she joined the Peace Corps. She was a volunteer in Ukraine from September 1997 to November 1999.
Law School
After returning from Ukraine, she studied at Georgetown University Law Center from 2003 to 2007. She attended law school at night while working during the day. She earned her law degree, called a Juris Doctor.
Her Career in Government
Kathy Kraninger has held important roles in the U.S. government.
Office of Management and Budget (2017–2018)
Kraninger worked as an associate director in the Office of Management and Budget (OMB) during the Trump administration. The OMB helps manage the U.S. government's budget. In this role, she oversaw about $250 billion in funding. This money went to seven government departments and other federal agencies. These included departments like Commerce, Homeland Security, Justice, and Treasury.
Consumer Financial Protection Bureau (2018–2021)
On June 16, 2018, President Donald Trump announced he would nominate Kraninger to lead the Consumer Financial Protection Bureau (CFPB). The CFPB is a government agency that works to protect consumers in financial matters. It helps make sure banks, lenders, and other financial companies treat people fairly.
Some groups and senators were concerned about her nomination. They pointed out that she did not have much experience in financial rules or consumer protection. During her confirmation hearings, she faced questions about her role in coordinating certain government policies.
Kraninger was approved for the role on December 6, 2018. The vote was very close, 50 to 49.
In 2019, Kraninger agreed with the Trump administration that the CFPB had too much independence. The administration had argued that the CFPB's structure was unconstitutional. Before she took over, the CFPB had defended its independence. During her confirmation hearing, Kraninger had said that Congress and the courts would decide this issue.
In July 2020, Kraninger introduced a new rule at the CFPB. This rule meant that payday lenders no longer had to check if people could afford to repay high-interest loans.
Kraninger resigned from her position on January 20, 2021. This happened at the request of the new Biden administration.
Awards and Recognition
Kathy Kraninger has received several awards for her public service.
- In 2014, Marquette University gave her its Young Alumna of the Year Award.
- In 2009, the United States Coast Guard gave her the Meritorious Public Service Award.
