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Senate Panel Approves Kraninger As CFPB Head

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Copyright 2018 NPR. To see more, visit DAVID GREENE, HOST: The Senate Banking Committee this morning narrowly approved the nomination of Kathleen Kraninger to head the Consumer Financial Protection Bureau. Her nomination passed on a party-line vote. This is a nomination that stirred a lot of controversy. And let's hear why from NPR's Yuki Noguchi, who's in our studio. Hey, Yuki. YUKI NOGUCHI, BYLINE: Good morning, David. GREENE: Why - not every nomination in the Senate Banking Committee touches off nerves like this one did. Remind us what's going on here. NOGUCHI: It has very much to do with the polarized nature of the organization she's going to lead. The CFPB is a watchdog group. It was created to try to safeguard consumers against some of the losses they suffered in the mortgage and financial crisis. But Republicans have often argued the agency wields too much power. And this administration has been paring back those powers from within. So that has Democrats very defensive about the

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