Consumer Financial Protection Bureau (CFPB) director Cathy Kringer resigned Wednesday at the request of the newly sworn-in chairman Biden, paving the way for her nominee to head the powerful regulatory agency.
Kringer, a Republican appointed by the former President TrumpDonald Trump gets Wayne’s 11-hour Trump pardon. Trump has pardoned more than 100 people, with Bannon Trump expected to be pardoned:An hour after Biden was inaugurated as the 46th US president, he announced his departure via Twitter.
“I support the president’s constitutional prerogative to appoint senior officials within the government who support the president’s policy priorities, which makes our government accountable for the will of the people as expressed in presidential elections,” Kringer said Wrote
Today, I resigned as Director of the CFPB, as requested by the Biden administration. I am proud of all that we did on behalf of consumers. It is an honor to lead the agency during these challenging times. pic.twitter.com/tlK4IpOOLN
– Kathy Kringer (@CFPBDirector) 20 January 2021
Kringer was confirmed to head the CFPB in December 2018 for a tenure lasting until 2023. He was the agency’s second full-time director, created by the 2010 Dodd-Frank Wall Street Reform Act to oversee banks, lenders, and credit. Card companies and loan officers treat their customers.
While Biden was able to shoot Kringinger, he did not resign for the Supreme Court’s decision to challenge the constitutionality of the CFPB, supported by Kringer and the Trump administration. The court in June found the CFPB’s structure to be unconstitutional and resolved the issue, limiting the provision of the President’s bureau’s director to be sacked.
Kringer’s resignation gives Biden an opportunity to quickly appoint an acting director to lead the CFPB up to his directorial nominee, Rohit ChopraRohit Chopra Helicon Valley: Biden Pix in Confirmation Hearing Needs Cyber Security to step down this month President of FTC | Progressive warns against appointing Tech Insiders to major rebels, Biden Consumer Bureau pick may take over agency on Inauguration Day Progressive groups warn against appointing technical insiders for key conflicting roles., is confirmed. Chopra is currently a Federal Trade Commissioner and Biden Could appoint him To lead the CFPB on an acting basis until formally nominated.
Chopra hopes that following in the footsteps of the former director, Kringer took a more aggressive stance towards the financial industry. Richard cordrayRichard Adams Cordrebiden Consumer Bureau pick may pick up agency on Inauguration Day. Consumer Bureau who fights Trump will lead agency to Biden plans Consumer Bureau revokes payday loan restrictions (D) and Sen. Elizabeth WarrenSenate Democrats Invite Defense Production Act to Call Biden Immediately Through Confirmation Hearing Through Pentagon Cruises for Elizabeth Warrenbiden Pickup Biden Consumer Bureau Pick Could Take Agency on Inauguration Day (D-Mass.), Architect of the CFPB.