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You Say BCFP, I Say CFPB…

Thursday, December 20, 2018   (0 Comments)
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You Say BCFP, I Say CFPB…

 

On her first few days on the job, Director Kathy Kraninger tackled the issue of the Bureau’s name. Initially, known as the Consumer Financial Protection Bureau (CFPB) then later changed to the Bureau of Consumer Financial Protection (BCFP) by Acting Director Mulvaney, as was written in the bill in which the Bureau was created. After being fully briefed on the costs, operational challenges and the effect on stakeholders, Kraninger says she carefully weighed the options and decided to officially halt all ongoing efforts to make changes to existing products and materials related to the name correction initiative as of December 17, 2018. 



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