Representative Maxine Waters (D-CA), along with various other Representatives, requested a written commitment from newly confirmed Consumer of Financial Protection Bureau ("CFPB") Director Kathy Kraninger to ensure that the CFPB will fulfill "its explicit statutory purpose and mandates by resuming a consistent supervisory role over consumer protection laws, including the Military Lending Act, for the most robust and efficient protection of servicemembers and their families."
The U.S. House of Representatives stated that servicemembers deserve to have their rights upheld through "strong supervision and enforcement by federal regulators, including the [CFPB]." In addition, they contend that it would be "wrong and contrary to the [CFPB's] statutory mission" to limit oversight of its regulated entities.
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