Toomey Statement Following Meeting with Kathy Kraninger
Kathy Kraninger was nominated on June 20th to head up the BCFP
Washington, D.C. - U.S. Senator Pat Toomey (R-Pa.) issued the following statement today after his meeting with Kathy Kraninger, President Trump's nominee to lead the Bureau of Consumer Financial Protection (BCFP):
"Under Richard Cordray, the BCFP routinely overstepped its authority while snubbing the public and Congress in the process. Following my meeting with Kathy Kraninger today, I am hopeful the BCFP will no longer be a rogue, unaccountable agency. Ms. Kraninger expressed the same concerns I have about some of the BCFP's past behavior and detailed her intent to reform the agency. However, internal reform is not enough to fix BCFP's flawed structure. Congress should act legislatively to change the BCFP's design with the goal of making it accountable to the American people and their representatives."