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    Maxine Waters and Democrats assail consumer finance watchdog for industry-friendly shift

    by Jim Puzzanghera, Los Angeles Times Mar 07, 2019 4 minutes

    WASHINGTON - The nation's new consumer financial watchdog came under fire from House Democrats Thursday for an industry-friendly shift under her predecessor that she has appeared to continue since taking office three months ago.

    Kathy Kraninger defended some of those changes, including weakening oversight of lending to minorities and military service members, as well as new standards for payday loans, in her first appearance before Congress as director of the Consumer Financial Protection Bureau.

    That frustrated Rep. Maxine Waters, D-Calif., and her colleagues who helped create the agency in the wake of the 2008 financial crisis and want strong consumer protections.

    "This committee will not tolerate the Trump administration's anti-consumer actions," said Waters, chairwoman of the House Financial Services Committee, who has introduced

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