WASHINGTON (December 6, 2018) – This afternoon, the Senate voted to approve Kathleen Kraninger as the next Director at the Bureau of Consumer and Financial Protection. Kraninger will replace Acting Director Mick Mulvaney, who has led the bureau since November of 2017. Shannon McGahn, Senior Vice President of Government Affairs for the National Association of Realtors® issued the following statement in response.
“The National Association of Realtors® applauds the Senate’s confirmation of Kathleen Kraninger to lead the Bureau of Consumer Financial Protection – the agency tasked to ensure consumers’ financial interests are protected. America’s 1.3 million Realtors® recognize the critical role the Bureau plays in maintaining the integrity of significant financial transactions like home purchases. Under Ms. Kraninger’s leadership, we believe the Bureau will properly protect consumers and support businesses that help more individuals achieve the American Dream of homeownership.
“Earlier this month, NAR spearheaded a support letter for Ms. Kraninger to Senate leadership, an effort that was supported by over 20 housing and financial organizations from across the industry. Ultimately, NAR is pleased to see Ms. Kraninger confirmed, and we look forward to working alongside the Bureau in our shared efforts to protect consumers, ensure compliance certainty in the marketplace and strengthen our nation’s housing industry.”
The National Association of Realtors® is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.