The following can be attributed to Jason Oxman, CEO of the Electronic Transactions Association (ETA), on the confirmation of Kathleen Kraninger as the next director of the Consumer Financial Protection Bureau:
“ETA congratulates Kathy on her confirmation to be the next Director of the CFPB. We look forward to working with her as the Bureau advances competition and innovation in financial services through measured and appropriate regulation and enforcement. ETA supports a positive policy environment that encourages the development and deployment of innovative fintech services.
“While ETA supports the appointment of this Director, we continue to recommend that the Senate transform the Bureau into a multi-member commission to provide a balanced approach to regulation and enforcement that is more in keeping with other industry regulators.”