CFPB Director Kathy Kraninger resigns as President Biden takes office

In a time of great change for the nation, the director of the Consumer Financial Protection Bureau, Kathy Kraninger,  submitted her resignation Wednesday after the inauguration of President Joe Biden. In her resignation letter, Kraninger wrote that she supported the “Constitutional prerogative of the President to appoint senior officials.”

Kraninger led the CFPB for just over two years. As she departed, she tweeted “As requested by the Biden administration, today I resigned as director of the CFPB. I am proud of all that we accomplished on behalf of consumers. It has been an honor to lead the agency during these challenging times.”

Biden is expected to nominate Rohit Chopra as new CFPB director.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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