Would CFPB Nominee Hamstring the Agency by Slashing Its Budget?
American Banker spoke to Chris Willis, a partner in Ballard Spahr’s Consumer Financial Services Group, about how the CFPB would change if Kathy Kraniger is confirmed as the next permanent director.
"Budget cuts would be consistent with the game plan, which is to restrain the agency," Mr. Willis said. "Even if a future permanent director succeeding Kraninger wanted to reestablish positions that had been cut, it would take six to nine months for the CFPB to reconstitute itself."
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