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Trade Groups Urge Senate To Confirm CFPB Nominee

[caption id="attachment_7663" align="alignleft" width="150"] Kathleen Kraninger[/caption]

The National Association of Realtors and over 20 trade groups from across the real estate industry, have sent a letter to Senate leadership and the Senate Committee on Banking, Housing and Urban Affairs urging confirmation of Kathleen Kraninger as director of the Consumer Financial Protection Bureau.

The Senate is expected to consider Kraninger's nomination before the end of 2018. Groups joining the National Association of Realtors include the National Association of Home Builders, the Mortgage Bankers Association and the Housing Policy Council.

"In addition to her time leading the Office of Management and Budget, Kathy Kraninger has decades of experience on Capitol Hill and with previous presidential administrations,” said Shannon McGahn, senior vice president of government affairs for NAR. “As director of the Consumer Financial Protection Bureau, the National Association of Realtors is confident Kraninger will prioritize the protection of consumers' financial interests while eyeing necessary and critical reforms of the Bureau's examination, enforcement, and rule making processes."

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NAR and the coalition of nearly two dozen associations have urged the Senate to confirm her as director.

" Kraninger previous positions in government demonstrate her approach to managing an agency that has significant impact on the daily lives of Americans and the U.S. economy," the letter reads. "Her background in government service with the Office of Management and Budget, Department of Homeland Security, and the Senate Appropriations Committee, gives her a strong understanding of the role of government and the need for increased transparency at the Bureau."

The National Association of Realtors is America's largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.

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