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Trump to nominate budget official to lead consumer protection agency

President Donald Trump intends to nominate Kathy Kraninger, an associate director at the Office of Management and Budget, to be director of the Consumer Financial Protection Bureau, The Wall Street Journal reported June 16, citing a White House spokesperson.

If nominated and approved by the Senate, Kraninger would succeed Mick Mulvaney, the head of the Office of Management and Budget who has been interim CFPB director since November 2017.

Mulvaney's term at the head of the consumer protection agency, which was created by the Dodd-Frank Act, was set to expire June 22.