Watchdog Agency Under Scrutiny
WASHINGTON (AP) — The government’s consumer watchdog agency is coming under new scrutiny from the House Financial Services Committee, now under the control of Democrats, who say appointees of President Donald Trump to lead the organization have undermined its mission to protect Americans.
A fresh rebuke from Rep. Maxine Waters, D-Calif., the chair of the committee, was aired Thursday as the new head of the Consumer Financial Protection Bureau, Kathy Kraninger, appears before the committee. In December, Kraninger succeeded Mick Mulvaney, now Trump’s acting chief of staff, who hired Republican political operatives to oversee nearly all of the agency’s operations.
Waters says she’s committed to reversing sustained efforts by Trump appointees to “destroy the agency.”
Kraninger is telling the lawmakers that she’s pushing broader efforts at the CFPB to prevent harm to consumers.