By Barbara Gulick, Billings
Last month, Senator Tester asked Kathy Kraninger tough but fair questions to see if she would fulfill the Consumer Bureau’s mandate and protect consumers in our state. Ms. Kraninger’s answers showed that she will continue the current acting director’s agenda: dropping cases against predatory lenders, allowing law breakers to go free without compensating their victims, and weakening the bureau’s ability to enforce the law. Before the vote Senator Tester said “my concern is that if we confirm Kraninger, she will do nothing, just as she answered none of my questions in the committee hearing. And if she does nothing then … the CFPB will [become] an inactive organization that will not be protecting students, military people or those who are seniors.” He then voted against installing Kraninger. We need someone at the consumer bureau who will enforce the law, not someone who will fall asleep at the wheel while we get scammed.
I am grateful that Senator Tester showed that he is willing to stand up to Wall Street and predatory lenders, as well as stand up for the people of Montana, by voting against Kathy Kraninger today. We cannot sit by while the rule of law is undermined.