CFPB Head Faces Dems' Ire On Virus Response, Payday Rule
Law360 (July 29, 2020, 8:53 PM EDT) -- The head of the Consumer Financial Protection Bureau defended her agency's pandemic response, enforcement activity and recent move to roll back its payday lending regulations before a Senate panel on Wednesday, drawing sharp Democratic criticism of her record and even a call to resign.
At a Senate Banking Committee oversight hearing, CFPB Director Kathleen Kraninger told lawmakers that the agency has kept its nose to the grindstone during the COVID-19 crisis, including by conducting extensive consumer outreach, fielding record volumes of pandemic-related consumer complaints and deploying "targeted" exams focused on the highest-risk areas for consumers during the pandemic.
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