Kathy Kraninger Is the Right Leader to Reform and Refocus the Bureau of Consumer Financial Protection

DEDICATED PUBLIC SERVANT: From the Peace Corps to the Office of Management and Budget (OMB), Kathy Kraninger has spent decades of her career in service to her country.

• Kraninger has dedicated her career to public service and has served in a wide range of leadership roles in both the executive and legislative branches, including:
  • Associate Director of the OMB;
  • Clerk with the United States Senate Committee on Appropriations; and
  • Deputy Assistant Secretary for Policy at the Department of Homeland Security (DHS).
• In the wake of September 11, 2001 Kraninger responded to the threat to our country by volunteering to join the leadership team setting up the newly created DHS.
  • Her work at DHS resulted in numerous awards including the Secretary of Homeland Security's Award of Exceptional Service, the International Police and Public Safety 9/11 Medal, and the Meritorious Public Service Award from the United States Coast Guard.
• Kraninger began her career in public service in 1997 as a United States Peace Corps volunteer.

MANAGEMENT EXPERTISE: Kathy Kraninger has the management skills and policy background necessary to reform and refocus the Bureau of Consumer Financial Protection (BCFP).

• Throughout her career in public service, Kraninger has worked in leadership teams responsible for overseeing large government agencies with more than 230,000 employees.
• Kraninger has extensive experience with Federal budgeting processes, procurement policy, and personnel management stemming from her work at OMB, DHS, and in the Congress.
• Key for any potential BCFP Director, Kraninger's background has provided her with ample experience overseeing rulemakings, setting enforcement policy, developing agency policy, and conducting investigations.
• Kraninger has expertise in key policy areas – including cybersecurity and privacy – that comprise core aspects of the duties performed by BCFP.

RIGHT LEADER AT THE RIGHT TIME: The BCFP needs the type of leadership Kathy Kraninger will bring to the agency.

• Years of poor leadership have made the agency an ineffective, poor steward of Federal dollars.
• The BCFP spends over $600 million dollars per year without Congressional oversight.
  • The renovations of its rented headquarters are over budget, costing more than $240 million and they are still not completed.
• The BCFP was undermined by its last permanent director, who advanced a blatantly partisan political agenda and wasted millions in taxpayer dollars.
  • Prior management built up a wasteful slush fund of more than $150 million.
  • The BCFP spent nearly $60 million for contracts with a politically connected public relations firm, which provided few real services to the agency.
• The BCFP has been the subject of numerous Congressional investigations due to its poor management and employment practices, reckless spending, and violations of due process.
  • The BCFP has exceeded its Congressional authorities, prompting Congress to overturn 2 of its rules through the use of the Congressional Review Act.