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CFPB Director Kraninger Halts Efforts to Change Agency's Name
Thursday, December 20, 2018 6:45 AM

In a memo to colleagues dated Dec. 19, 2018, Consumer Financial Protection Bureau Director Kathleen Kraninger announced that the Bureau has officially quashed efforts to make changes to the name correction initiative implemented by her predecessor, Acting Director Mick Mulvaney.

"After being fully briefed on the costs, operational challenges, and the effect on stakeholders, I have carefully weighed the options," Kraninger wrote. "As of Dec. 17, 2018, I have officially halted all ongoing efforts to make changes to existing products and materials related to the name correction initiative. For statutorily required reports, legal filings, and other items specific to the Office of the Director, we will use the Bureau seal and the statutory name we were given in Dodd-Frank. The name 'Consumer Financial Protection Bureau' and the existing CFPB logo will continue to be used for all other materials."

"In other words, we have a legal name but will be using our colloquial name and the branded acronym CFPB," she wrote. "I believe this decision is most efficient and effective for our continued work together."