Democrats on the House Financial Services Committee grilled the Consumer Financial Protection Bureau's new chief, Kathy Kraninger, who made her first appearance before Congress since she was appointed in December
Kraninger was questioned about decisions made under her predecessor, Mick Mulvaney, as well as about the bureau's role in protecting service members and student debtors -- and was at one point asked to calculate the annual percentage rate on a hypothetical payday loan. Freshman California Rep. Katie Porter posed the math problem and provided the agency chief with a calculator.
Under Kraninger, the bureau has proposed rolling back a rule drafted under Obama-appointee Richard Cordray that was meant to protect consumers from predatory payday lenders. The agency is currently accepting public comments before formally rescinding part of the rule. New CFPB director reverses efforts to change the agency's nameAs a member of Congress representing South Carolina, Mulvaney called the CFPB a"joke" and pushed to abolish it.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Homeland Chief Defends Trump’s Declaration of Border EmergencyHomeland Security Secretary Kirstjen Nielsen told Congress that the U.S. faces a “real, serious, and sustained crisis at our borders” and defended President Trump’s declaration of a national emergency to obtain more funds for border barriers.
Read more »
Democrats grill offshore drilling safety agency on permit waiversHouse Democrats repeated their demand that the Interior Department furnish years of unredacted drilling permits showing how many waivers from safety rules it had given to offshore oil and gas rig operators
Read more »
Democrats in presidential race defend Ilhan Omar on remarks critics saw as anti-SemiticDemocratic presidential candidates came to the defense of Rep. Ilhan Omar over remarks that critics saw as anti-Semitic amid a rift within the party over U.S. support of Israel.
Read more »
Ocasio-Cortez defends Omar, criticizes Democrats over anti-Semitism resolution'But incidents like these do beg the question: where are the resolutions against homophobic statements? For anti-blackness? For xenophobia?' Ocasio-Cortez defends Omar, criticizes Democrats over anti-Semitism resolution.
Read more »
FDA Chief Scott Gottlieb to Leave AgencyScott Gottlieb, the Food and Drug Administration commissioner who has presided over initiatives to limit the sale of e-cigarettes to children, is resigning.
Read more »
FDA chief Gottlieb resigns as agency battles teen vaping, opioid crisisFDA Commissioner Scott Gottlieb announced his resignation yesterday after having launched an aggressive campaign against teen smoking and the opioid crisis during his time in the post. The announcement came as a surprise to many.
Read more »
Homeland Security chief faces questioning from Democrats“Illegal immigration is simply spiralling out of control.” Kirstjen Nielsen, US Secretary of Homeland Security faces questioning about her role in implementing Trump’s immigration policies
Read more »
Climate change gets worse management under Trump, investigation findsThe federal government is doing a worse job managing the problem of climate change under President Donald Trump, according to an investigation from the Government Accountability Office that included climate change on its High Risk List report on Wednesday.
Read more »
‘Not my fault’: Trump struggles to defend his record amid setbacks on immigration, trade, North KoreaMore than halfway through his term, the president has failed to make progress on a number of his top priorities.
Read more »
Homeland Security Sec. Kirstjen Nielsen defends Trump's emergency declaration: 'This is truly an emergency'Homeland Security Secretary Kirstjen Nielsen on Wednesday defended President Donald Trump's declaration of a national emergency at the southern border as she faced questioning for the first time since Democrats took control of the House. 'This is not a manufactured crisis,' Nielsen told
Read more »