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Kathy Kraninger Is the Right Leader to Reform and Refocus the Bureau of Consumer Financial Protection

July 19, 2018

"All Americans deserve accountability and respect – and that is what we are giving them." – President Donald J. Trump

DEDICATED PUBLIC SERVANT: From the Peace Corps to the Office of Management and Budget (OMB), Kathy Kraninger has spent decades of her career in service to her country.

  • Kraninger has dedicated her career to public service and has served in a wide range of leadership roles in both the executive and legislative branches, including:
    • Associate Director of the OMB;
    • Clerk with the United States Senate Committee on Appropriations; and
    • Deputy Assistant Secretary for Policy at the Department of Homeland Security (DHS).
  • In the wake of September 11, 2001 Kraninger responded to the threat to our country by volunteering to join the leadership team setting up the newly created DHS.
    • Her work at DHS resulted in numerous awards including the Secretary of Homeland Security's Award of Exceptional Service, the International Police and Public Safety 9/11 Medal, and the Meritorious Public Service Award from the United States Coast Guard.
  • Kraninger began her career in public service in 1997 as a United States Peace Corps volunteer.

MANAGEMENT EXPERTISE: Kathy Kraninger has the management skills and policy background necessary to reform and refocus the Bureau of Consumer Financial Protection (BCFP).

  • Throughout her career in public service, Kraninger has worked in leadership teams responsible for overseeing large government agencies with more than 230,000 employees.
  • Kraninger has extensive experience with Federal budgeting processes, procurement policy, and personnel management stemming from her work at OMB, DHS, and in the Congress.
  • Key for any potential BCFP Director, Kraninger's background has provided her with ample experience overseeing rulemakings, setting enforcement policy, developing agency policy, and conducting investigations.
  • Kraninger has expertise in key policy areas – including cybersecurity and privacy – that comprise core aspects of the duties performed by BCFP.

RIGHT LEADER AT THE RIGHT TIME: The BCFP needs the type of leadership Kathy Kraninger will bring to the agency.

  • Years of poor leadership have made the agency an ineffective, poor steward of Federal dollars.
  • The BCFP spends over $600 million dollars per year without Congressional oversight.
    • The renovations of its rented headquarters are over budget, costing more than $240 million and they are still not completed.
  • The BCFP was undermined by its last permanent director, who advanced a blatantly partisan political agenda and wasted millions in taxpayer dollars.
    • Prior management built up a wasteful slush fund of more than $150 million.
    • The BCFP spent nearly $60 million for contracts with a politically connected public relations firm, which provided few real services to the agency.
  • The BCFP has been the subject of numerous Congressional investigations due to its poor management and employment practices, reckless spending, and violations of due process.
    • The BCFP has exceeded its Congressional authorities, prompting Congress to overturn 2 of its rules through the use of the Congressional Review Act.

Donald J. Trump, Kathy Kraninger Is the Right Leader to Reform and Refocus the Bureau of Consumer Financial Protection Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/335911

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