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| Committee advances Johnson nomination for CFPB Director |
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Former CFPB Deputy Director Brian Johnson is one step closer to leading the agency. The Senate Banking Committee advanced Johnson’s nomination as bureau director Thursday.
“America’s Credit Unions is pleased to see the Senate Banking Committee is moving forward Brian Johnson’s nomination to lead the CFPB. Having a confirmed Director at the CFPB is a priority for America’s Credit Unions,” said America’s Credit Unions Chief Advocacy Officer Kathleen Coulombe. “There are a number of outstanding issues that we have asked the CFPB to address, including providing regulatory relief from burdensome HMDA regulations for small credit unions, redrafting the 1033 rulemaking to ensure a level playing field between credit unions and fintechs, and focusing bureau resources on unregulated actors - not credit unions - who are the original consumer protectors. We urge the full United States Senate to act quickly on this nomination.”
Johnson, who served as CFPB deputy director in the previous Trump administration, told the committee in July his priorities as director will be:
• Protecting consumers, especially those who are vulnerable to fraud and scams;
• Promoting accountability by ensuring the CFPB acts prudently and within its statutory limits; and
• Modernizing bureau operations.
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