Kraninger’s disposition appears very nearly the inverse of Mulvaney’s. If he’s the self-styled “right wing nutjob” ready to blow the institution up and every thing near it, Kraninger provides positive rhetoric — she says she desires to “empower” consumers — and results in as an amiable technocrat. At 44, she’s a former governmental science major — with levels from Marquette University and Georgetown Law School — and has invested her job within the federal bureaucracy, with a series of jobs when you look at the Transportation and Homeland protection divisions last but not least in OMB, where she worked under Mulvaney. (In an interview together with her university alumni relationship, she hailed her Jesuit education and cited Pope Francis as her “dream dinner visitor.”) Inside her past jobs, Kraninger had considerable cost management experience, but none in customer finance. The CFPB declined numerous needs to make Kraninger readily available for an meeting and directed ProPublica and WNYC to her general public responses and speeches.
Kraninger is not used to testimony that is public but she currently appears to have developed the politician’s ability of refusing to answer hard questions.
At a hearing in March simply weeks prior to the Doral meeting, Democratic Rep. Katie Porter repeatedly asked Kraninger to determine the annual percentage rate on a hypothetical $200 two-week pay day loan that costs ten dollars per $100 lent plus a $20 charge. The trade went viral on Twitter. A calculator to Kraninger’s side to help her in a bit of congressional theater, Porter even had an aide deliver. But Kraninger wouldn’t normally engage. She emphasized that she desired to conduct an insurance plan discussion in the place of a “math exercise.” The clear answer, because of the way: That’s a 521% APR.