Competitive Enterprise Institute Senior Fellow John Berlau expressed CEI’s support for President Trump’s nominee to head the Bureau of Consumer Financial Protection:
“The Competitive Enterprise Institute supports the nomination of Kathleen Kraninger to be director of the Bureau of Consumer Financial Protection. Kraninger made it clear at her confirmation hearing she opposes ‘regulation by enforcement’ -- setting after-the-fact, arbitrary punishments for certain financial firms -- and favors marketplace competition as the best way to provide consumers with more affordable small-dollar loans. But any director must be held accountable, so Congress must take action to reform the Bureau and curb its unchecked power by making the director removable by the president and by having Congress control the Bureau’s annual funding.”
CEI has a pending lawsuit challenging the constitutionality of the Bureau. Find out more about the case at cei.org/doddfrank.
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