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Jeffrey P. Naimon quoted in American Banker article, “Would a Democratic president fire CFPB's Kraninger?”

American Banker

Jeffrey P. Naimon

Jeffrey P. Naimon was quoted on September 12, 2019 in an American Banker article, “Would a Democratic president fire CFPB's Kraninger?” which explored the possibility of a Democratic victor in the presidential race being the first to mount a constitutional challenge to the agency's leadership. The article stated, “Some lawyers think the Supreme Court will soon hear one of three cases challenging the bureau's constitutionality, all dealing with a president's ability to fire a CFPB director. Yet even though those cases had initially targeted former Obama-appointed CFPB Director Richard Cordray, a high court ruling making it easier to unseat a CFPB chief could be used to fire current Trump-appointed Director Kathy Kraninger, whose policies are opposed by many Democrats.”

Naimon noted, “Who gets to sit in this job is important. When Trump got into office everyone thought he would try to fire Cordray. And then he didn’t and he didn’t and he didn’t. Even Elizabeth Warren, who was the driving force behind the agency’s creation, might think the smart thing to do would be to wait out Kraninger’s term, depending on her administration’s priorities.”

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