CFPB Director Kraninger Just Gave Aide With Ties to Anti-LGBT Hate Group the Power to Give Businesses “Safe Harbor” from Equal Credit Opportunity Act
Washington D.C. — Consumer watchdog Allied Progress threw up red flags as the Trump-Kraninger Consumer Financial Protection Bureau issued new policies today purporting to ‘promote innovation.’ At least one of these proposals, the so-called Compliance Assistance Sandbox (CAS) Policy appears to give Assistant Director Paul Watkins the authority to exempt businesses from liability for products and services that fall under certain consumer protection laws like the Equal Credit Opportunity Act, which prohibits lending discrimination. It comes as serious questions raised by members of Congress remain unanswered about Watkins’ past work for an SPLC-designated anti-LGBT hate group, including whether the Trump CFPB knew about his history before hiring him and whether Watkins can be trusted to enforce rules against lending discrimination. Allied Progress Director Derek Martin issued the following statement:
“When Director Kraninger was confronted with the fact that one of her top aides, Paul Watkins, formerly worked for an anti-LGBT hate group, she rushed to his defense. Now Kraninger just gave that same aide real power that could be used to give a free pass to businesses that discriminate against consumers. The only ‘innovation’ going on here is a new way for the Trump-CFPB to further undermine its core purpose – to protect ALL consumers from predatory financial actors.”
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