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 nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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