WASHINGTON _ While President Donald Trump's nominee to head the Consumer Financial Protection Bureau has drawn criticism from consumer advocates and Democrats for her lack of relevant experience, she has firsthand experience with at least one area under the bureau's mandate: student loans.
Kathleen Kraninger, currently with the federal Office of Management and Budget, holds between $50,000 and $100,000 in student debt, according to her financial disclosure records. She took the debt on in 2003, the year she entered Georgetown law school, according to her biography on LinkedIn. Neither the CFPB's acting director, Mick Mulvaney, nor its previous director, Richard Cordray, held student loans when they assumed leadership of the agency, according to their financial disclosures.
That firsthand experience didn't come up in her confirmation hearing last week in the Senate Banking Committee, despite the fact that she was asked by multiple Democrats what she would do to protect student borrowers.
