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The Senate Banking Committee on March 6 approved the nomination of Jonathan McKernan to be Director of the Consumer Financial Protection Bureau.

The committee voted 13-11; the nomination now goes to the full Senate. McKernan, a former FDIC Board Member, would replace Acting Director Russell Vought.

Support for McKernan has divided along party lines, with Democrats saying that he would help dismantle an agency that the Trump Administration has said no longer should exist.… Continue Reading

President Trump has nominated Jonathan McKernan to be the Director of the CFPB.

If confirmed by the Senate, McKernan would replace Office of Management and Budget Director Russell Vought, who is serving as acting bureau director.

Earlier this week, McKernan stepped down as a member of the FDIC board after Trump nominated Rodney Hood as a member.… Continue Reading

Acting CFPB Director Russell Vought has temporarily put a halt to virtually all of the agency’s work.

President Trump designated Vought, director of the Office of Management and Budget (OMB) as acting bureau director Friday night. He replaced Treasury Secretary Scott Bessent, who had served as acting CFPB director until Vought’s appointment.… Continue Reading

Contending that he wants to ensure that the CFPB is in line with Trump Administration policies, acting bureau Director Scott Bessent has reportedly ordered the agency to stop virtually all work.

President Trump designated Bessent, Secretary of the Treasury, to be Acting Director of the agency, after firing Director Rohit Chopra this past weekend.… Continue Reading

Today’s podcast episode is a repurposing of part one of our December 16 highly-attended and praised webinar consisting of Alan Kaplinsky’s exclusive interview of David Silberman, who held several senior positions at the CFPB for almost 10 years under both Democratic and Republican administrations. Part two of our December 16 webinar, featuring Ballard Spahr partners John Culhane and Joseph Schuster, is to be released on January 9.… Continue Reading

In today’s podcast episode, we are joined by Raj Date, who has served in a variety of roles at the Consumer Financial Protection Bureau, including as the acting head of the agency and as it’s first-ever Deputy Director. He recently wrote a thought-provoking article in a new online publication, Open Banker, entitled “Banks Aren’t Over-Regulated, They Are Over-Supervised.”… Continue Reading

The Utah Project on Antitrust and Consumer Protection is hosting a free conference open to the public on the future of consumer financial services law on October 11, 2024 from 8 am until 4 pm, MT. 

The title of the conference is “From AI to Junk Fees to Public Health: The Future of Consumer Financial Services Law.” … Continue Reading

Our special guest this week is John Tonetti. After decades as an industry risk executive, Mr. Tonetti joined the Consumer Financial Protection Bureau (CFPB), where he worked for many years in roles including Debt Collection Program Manager, senior policy analyst, and internal consultant on numerous issues including debt collection and risk management policies and examinations.… Continue Reading