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Senate poised to confirm new Consumer Financial Protection Bureau chief. Then what?

White House Office of Management and Budget official Kathleen Laura Kraninger testifies during a confirmation hearing before the Senate Committee on Banking, Housing, and Urban Affairs July 19, 2018 on Capitol Hill in Washington, D.C. Alex Wong/Getty Images

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Since the beginning of the Trump administration, the Consumer Financial Protection Bureau has been operating under the direction of Mick Mulvaney, who is also the head of the Office of Management and Budget. He’s deliberately slowed and narrowed the scope of the bureau’s work. Now a new head, Kathleen Kraninger, is likely to be confirmed. She’s a Mulvaney protege, and that has Washington predictably split on what her appointment could mean. Before taking over, Mulvaney had been a foe of the bureau, which was launched under the leadership of political adversary Sen. Elizabeth Warren in 2011. If Kraninger is confirmed, where will the CFPB be headed?

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