Press Releases

LITTLE ROCK, Ark. — Today, Congressman French Hill (AR-02) hosted a "Community Bank Roundtable" with Kathy Kraninger, the Director of the Consumer Financial Protection Bureau (CFPB). At the roundtable, Rep. Hill and Director Kraninger listened to concerns about key regulatory initiatives and legislative issues facing Arkansas's banking community.

"It was a privilege to host Director Kraninger in Little Rock today. Community banks have felt additional regulatory burdens in response to the 2008 financial crisis even though they did not cause or contribute to it," said Congressman Hill. "To have her hear the concerns of Arkansas bankers is a crucial step to ensuring that our federal government is in tune with the banks that serve our communities, and is not placing undue burdens on them. As a former community banker, I know each of these banks is vital to the people of Arkansas, and giving them the ability to serve their customers as they know best will help Arkansans have a more secure financial future." 



Background:

The CFPB regulates financial institutions that are providing products like credit cards, mortgages, and loans, etc., to Americans. They ensure that consumers understand the fine print that explains the risks involved in using these services, and the banks, credit unions, and other financial companies that provide them comply with current law.

Kathleen Kraninger is the Director of the Consumer Financial Protection Bureau. Prior to joining CFPB, Kraninger served as an associate director in the Office of Management and Budget, where she oversaw $250 billion in funding for seven cabinet departments and other federal agencies, including the United States Departments of Commerce, Homeland Security, Justice, Housing and Urban Development, and Treasury.