New head of consumer agency promises top focus on consumers

WASHINGTON — The new head of the U.S. consumer watchdog agency says she doesn't have immediate targets in mind for rolling back actions taken by her controversial predecessor, and will put protecting consumers in the forefront.

Kathy Kraninger, nominated by President Donald Trump and confirmed by the Senate last week on a narrow, party-line vote, has replaced Mick Mulvaney as director of the Consumer Financial Protection Bureau. Mulvaney, named by Trump as acting director a year ago, had been a vocal critic of the agency and made deep changes in it. He proposed cutting back many of the CFPB's rules put in place during the Obama administration and scaled back its enforcement efforts.

"We absolutely will put consumers first in the decisions that I will make," Kraninger told reporters Tuesday.

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