The Consumer Financial Protection Bureau’s leader came under criticism Thursday from U.S. House Democrats over recent enforcement guidance that some critics said would undercut the regulator’s ability to crack down on abusive industry practices.
Appearing before the House Financial Services Committee, CFPB Director Kathy Kraninger was scolded by Democratic lawmakers over the guidance, in which the bureau said it was aiming to bring clarity to an enforcement area that financial industry advocates have described as poorly defined.
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