The Hill, July 29, 2020: Warren hammers CFPB director over consumer complaints: ‘You should resign’
The progressive senator claimed the director’s response is hurting consumers and giving companies a “get out of jail free card” against consumer protections under law.
“Your leadership has been a miserable failure based on your actions in this pandemic. You should resign,” Warren told CFPB director Kathy Kraninger on Wednesday during a Senate Banking Committee hearing.
Warren, who helped establish the CFPB 10 years ago during the Obama administration, noted the record numbers of complaints filed by consumers during recent months amid the coronavirus pandemic.
In March, the CFPB issued a guidance announcing that it would be providing “needed flexibility to enable financial companies to work with customers in need as they respond to the COVID-19 pandemic.”
