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BREAKING: The director of the CFPB just resigned at Biden’s request

By January 20, 2021 No Comments

Incoming Treasury Secretary will “act big” on next stimulus package

President Biden is wasting no time and is expected to sign a flurry of executive orders, one of which will probably be a further extension of the foreclosure moratorium.

The head of the largest, strongest regulator in the mortgage space, Consumer Financial Protection Bureau, Director Kathy Kraninger, just resigned at the request of the newly sworn-in President Biden, clearing the way for his nominee, Rohit Chopra, to lead the powerful regulatory agency.

Kraninger, a Republican appointed by former President Trump, announced her departure via Twitter roughly an hour after Biden was inaugurated as the 46th U.S. president. 

“I support the Constitutional prerogative of the President to appoint senior officials within the government who support the President’s policy priorities, which ensures our government is responsive to the will of the people as expressed in presidential elections,” Kraninger wrote.

More in tomorrow’s Rise&Shred.

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