In a recent speech, newly confirmed Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger laid out her plan to reshape the agency to focus more on working with financial institutions to protect consumers.

Since its creation, the Bureau’s mission has been to protect consumers against bad financial actors. However, over the years, the agency has become more of an overzealous traffic cop than anything else–aggressively fining financial firms that violate their regulations rather than working with them to remedy the situation.

Under the leadership of Kraninger, the emphasis will not be on how many fines the agency can collect, but on “preventing consumer harm by maximizing informed consumer choice.”

Kraninger also directed her agency staff to adopt a more collaborative approach, such as initiating more private interactions with financial institutions.

Kraninger’s market-friendly leadership will be good for both consumers and financial institutions. Reducing outdated and unnecessary regulations on financial firms will allow for easier access to obtain credit for consumers who need it most. Rather than slapping companies on the wrist every time they violate the CFPB’s often convoluted regulations, Kraninger’s new approach will hopefully allow financial regulators to work with institutions to develop better ways to protect consumers.

A win-win for everyone.