Elizabeth Warren has always been a fighter for Consumer Rights….
Obama wanted her to be the head of the Federal Consumer Federal Protection Bureau but that didn’t’t happen….She is Senator instead….
The Trump choice for the agency will most likely to work to water down regulations and rules providing any kind of help for consumers…..Republicans tend to side with big business……
In the confirmation for Trump’s pick, Kathy Kraninger, Senator Warren will do something she IS really good at, rant against the Republicans screwing over American consumers….She probably won’t stop Kraninger from gettin the job….But Americans, at least, have someone on their side still in Congress….Some Democrats that are tight races seem to be supporting here efforts also…
……. moderate Democrats, after battling Warren over legislation rolling back parts of the 2010 Dodd-Frank Wall Street reform law earlier this year, are wary of another fight with the powerful senator and her allies on one of her signature issues.
The Senate Banking Committee is expected to vote on Kraninger’s nomination when the Senate reconvenes next week. Republicans quickly coalesced around Trump’s pick, an associate director at the Office of Management and Budget (OMB), and most Democrats are expected to oppose her.
Kraninger, who was nominated in June, is likely to be confirmed along party lines for a five-year term as director of the CFPB, empowering her with almost exclusive authority over the agency’s budget, regulations and enforcement actions.
Former CFPB assistant director Quyen Truong, now a partner at the law firm Stroock & Stroock & Lavan LLP, said Kraninger “could fundamentally change the way the bureau operates.”
The loudest opposition to Kraninger has come from Warren, a member of the Banking panel who is credited with designing and staffing the CFPB from when she was an adviser to former President Obama.
Aides to five other Senate Democrats on the Banking Committee, including Heitkamp and Tester, said they will vote against Kraninger. The panel’s minority has been united in its skepticism of Kraninger’s qualifications.
The OMB official has no direct experience crafting or enforcing financial regulations, and Democrats fear she will continue CFPB Acting Director Mick Mulvaney’s massive drawback of the consumer watchdog’s oversight….