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Article snippet: MORE will nominate Office of Management and Budget (OMB) official Kathy Kraninger to be the next director of the Consumer Financial Protection Bureau (CFPB), the White House said Saturday. White House deputy press secretary Lindsay Walters confirmed Trump’s choice of Kraninger, an associate director at OMB, in a Saturday statement. Kraninger would take the reins of the politically polarizing consumer watchdog agency that Republicans have long fought to weaken. Walters said the little-known budget official “will bring a fresh perspective and much-needed management experience to the [bureau], which has been plagued by excessive spending, dysfunctional operations, and politicized agendas." ADVERTISEMENT Kraninger would replace White House budget director MORE, the OMB chief who has served as the CFPB’s acting director since November. Trump's decision to nominate Kraninger was first reported by Bloomberg. While she has little apparent experience with financial regulation, the White House said Kraninger is "a staunch supporter of free enterprise" that will "ensure that consumers and markets are not harmed by fraudulent actors. Kraninger is seen as a politically safe choice who would continue to ease the CFPB’s policing of the financial services industry. Even so, she will likely to face a lengthy confirmation process as the Senate sprints to finish must-pass legislation and approve a slew of federal judges before November's midterm elections. Mulvaney's term as act... Link to the full article to read more