MarketWatch: CFPB director gets pressed on whether she can calculate APR
Rep. Katie Porter, D-CA, pulls out her self-authored textbook and a calculator during a House Financial Services Committee hearing because CFPB Director Kathy Kraninger did not give the definition of ‘annual percentage rate’ (APR) that was sufficient for Porter. Porter also gave Kraninger a practice problem where the director was asked to find the APR. The director would not, or could not, answer the question.
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