CFPB Director Kraninger to Testify This Week, Other Hearing of Interest to Credit Unions

Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger will testify before both the House Financial Services and Senate Banking committees this week as part of her semi-annual report to Congress.

Kraninger will appear before the House Financial Services Committee Wednesday morning and before the Senate Banking Committee Thursday morning.  CUNA will send letters for the record of both hearings. The hearings will be live-streamed on the committees’ websites.

House Democrats and Kraninger have had recent disagreements over the leadership structure of the CFPB, and CUNA and the state leagues continue to support replacing a single director with a bipartisan, multimember commission. 

Other hearings CUNA is engaged with this week include:

  • Wednesday (2:00pm): House Financial Services subcommittee on housing, community development and insurance/subcommittee on national security international development and monetary policy joint hearing, “Protecting America: The Reauthorization of the Terrorism Risk Insurance Program;”
  • Thursday (10:00am): House Financial Services subcommittee on investor protection, entrepreneurship, and capital markets hearing, “Examining Corporate Priorities: The Impact of Stock Buybacks on Workers, Communities, and Investors.”
  • Thursday (2:00pm): House Financial Services subcommittee on diversity and inclusion hearing, “Promoting Inclusion: Examining the Need for Diversity Practices for America's Changing Workforce;” and
  • Friday (9:30am): House Financial Services Committee Task Force on Artificial Intelligence hearing, “AI and the Evolution of Cloud Computing: Evaluating How Financial Data is Stored, Protected, and Maintained by Cloud Providers.”