President Trump has nominated Brian Johnson to become the director of the Consumer Financial Protection Bureau (CFPB).
Johnson served as deputy director of the CFPB from 2018 to 2020 during the first Trump term. During that time, he served as the CFPB representative to the Financial Stability Oversight Council Deputies’ Committee and advised on interagency matters involving the Federal Deposit Insurance Corp. and the Federal Financial Institutions Examination Council.
Johnson is current vice president and US card compliance officer at Capital One. He was previously managing director in the banking supervision and regulation group at Patomak Global Partners and a partner in Alston & Bird LLP’s financial services and products group.
If confirmed by the Senate, Johnson will serve a five-year term. The CFPB has not had a permanent director since the return of the Trump administration. Russell Vought’s terms as acting director is set to expire in August.
Mortgage Bankers Association President and CEO Bob Broeksmit welcomed the nomination, stating, “Johnson brings deep experience and knowledge in consumer financial services policy and law, including service as CFPB Deputy Director and in senior policy roles at the Bureau, where he helped oversee rulemaking, supervision, and enforcement activities. The CFPB is an important partner to our industry, and we will continue to work together to advance reforms that lower costs, reduce unnecessary regulatory burdens, and improve access to sustainable homeownership opportunities.”
Consumer Bankers Association President and CEO Lindsey Johnson also issued a statement welcoming the nomination.
“We congratulate Brian Johnson on his nomination to lead the CFPB and welcome the opportunity to work with him as the Bureau enters its next chapter. Brian has a tenured background steeped in consumer protection policy, having served at the Bureau in the first Trump Administration,” said Johnson. “America’s leading Main Street banks look forward to engaging with Director-designate Johnson on policies that provide certainty and create a more durable, stable CFPB where the Bureau meets its mission of consumer protection in a manner consistent with its congressional mandate. A transparent, accountable CFPB focused on its core mission will strengthen outcomes for consumers, financial institutions, and the US economy.”
The American Bankers Association issued an unattributed statement that said, “The Bureau upholds its consumer protection mission best when it operates within its statutory authority, promotes responsible innovation and pursues regulations that are appropriately tailored and applied evenly to all market participants. We look forward to the confirmation process and learning more about Brian’s plans for the CFPB moving forward.”
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