Breaking News: U.S. Senate Confirms Kathy Kraninger as Next Director of BCFP

The U.S. Senate voted 50-49 Thursday to confirm Kathy Kraninger to serve a five-year term as director of the Bureau of Consumer Financial Protection (BCFP).

Following the vote, ACA International CEO Mark Neeb sent a congratulatory letter to Kraninger.

“ACA International looks forward to working with Director Kraninger and the new leadership at the BCFP. It is imperative that leadership at the bureau understands that consumers are best served by common-sense regulation and transparency, so that the accounts receivable management industry can operate effectively with clear rules. ACA looks forward to working with the new leadership to provide important information related to the impact of the bureau’s work on the accounts receivable management industry and in pursuit of our shared goal of improving consumer outcomes.”

Kraninger will replace Acting Director Mick Mulvaney, whom she worked with at the Office and Management and Budget.

One week ago, the U.S. Senate voted along party lines to end debate (50-49) on Kraninger’s nomination as director of the BCFP and move forward with the final vote in the lame duck session.

Neeb’s letter, available on ACA International’s online BCFP Resource Center, outlines ACA’s plan for working with the bureau’s leadership along with priorities the association encourages the bureau consider as it moves forward with rulemaking positioned to impact the accounts receivable management industry.

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