Hypocrisy Alert: What Will Senate Banking GOP Say About Kraninger’s Nonexistent Record?

Several Republicans on the Senate Banking Committee Have Expressed Concern Over Other Nominees Without Relevant Experience

WASHINGTON, D.C. – Tomorrow morning, the Senate Banking Committee will consider the nomination of Kathy Kraninger, President Trump’s choice to lead the Consumer Financial Protection Bureau (CFPB).  It is still unclear how the committee’s Republicans will handle the fact that Kraninger has no record on consumer protection or financial and banking regulatory issues.  Will they hold her to the same standard they have other nominees who purportedly lacked relevant experience in their eyes, or give her a pass?

We deserve a consumer champion at the CFPB, not Kathy Kraninger. She has no record of consumer protection or with holding powerful Wall Street special interests accountable – key traits the American people expect in the nation’s next chief consumer advocate,” said Karl Frisch, executive director of Allied Progress.

He continued, “You’d think this would be a major cause for concern for certain Republicans on the Senate Banking Committee who have sounded the alarm against other nominees who lacked relevant experience in their eyes. We will be watching to see if they hold Kraninger to the same basic standards.”

Senate Banking Committee GOP on Importance of Relevant Experience:

Sen. John Kennedy (R-LA) 

  • John Kennedy has been a vocal opponent of unqualified Trump judicial nominees. Kennedy opposed the nomination of Trump judicial nominee Brett Talley, who Donald Trump nominated for a district court seat in Alabama. Kennedy called the nomination “‘embarrassing,’” noting that Talley, who was rated “not qualified” by the American Bar Association, had “‘never tried a lawsuit in his natural life.’” [Seung Min Kim, “Louisiana GOP Sen. Kennedy opposes controversial Trump judicial nominee,” Politico, 11/28/17]
  • Kennedy garnered media attention when he grilled an unqualified Trump judicial nominee on basic aspects of trial procedure during a committee hearing. Kennedy questioned Matthew Petersen, who had no trial experience and was “visibly uncomfortable” as he “fumbled with Kennedy’s questions.” [Derek Hawkins, “Trump judicial nominee fumbles basic questions about the law,” The Washington Post, 12/15/17]

Sen. Jerry Moran (R-KS) 

Sen. Mike Rounds (R-SD)

  • Mike Rounds praised fellow Senator John Kennedy’s tough questioning of an unqualified judicial nominee and opposed Trump’s nomination of Scott Garrett to lead the Export-Import Bank “in the same spirit.” Rounds praised Kennedy’s tough questioning of an unqualified judicial nominee and said he opposed Garrett “in the same spirit,” citing “the important constitutional responsibility of the Senate’s ‘advice and consent’ role when it comes to nominees.” [Mike Rounds, “ Mike Rounds: Trade is crucial, and the Export-Import Bank is a vital part of it,” Washington Examiner, 12/27/17]

Sen. Richard Shelby (R-AL)

  • Richard Shelby opposed a Federal Reserve Board nominee because he did not “‘possess the appropriate background or experience’”—even though Shelby acknowledged the nominee was “‘a very accomplished academic and economist.’” In 2011, Richard Shelby opposed the nomination of Peter Diamond to the Federal Reserve Board. Although he acknowledged that Diamond was “‘a very accomplished academic and economist,’” Shelby said he did not “‘possess the appropriate background or experience that makes him the best person for the job.’” He called on President Obama to “‘find another nominee with the level of experience and temperament necessary to garner bipartisan support.’“ [Press Release, “Shelby: Diamond is Not the Right Person for This Job,“ Sen. Richard Shelby, 05/12/11]




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