Kathy Kraninger, a former White House budget official, has been sworn in as the new head of the Consumer Financial Protection Bureau. Ms. Kraninger will be taking over from acting director Mick Mulvaney. Ms. Kraninger will direct the CFPB's enforcement and rulemaking actions, in addition to overseeing budgeting and staffing. Many in the industry wonder how Ms. Kraninger's role as acting director will differ from Mr. Mulvaney's time as director.

Ballard Spahr Partner Alan Kaplinsky commented that, "Mulvaney had a track record of being critical of the Bureau and was known to be gunning for it when he became acting director." Of Ms. Kraninger, he noted that, "She seems to be a blank slate."

Read the full article here. Subscription may be required.