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Banking trade groups uniformly support the nomination of former CFPB executive Brian Johnson to head the bureau.
“Brian has a distinguished track record in bank regulatory policy both at the Bureau and on Capitol Hill, and he will bring a thoughtful approach to setting the Bureau’s priorities in the years ahead if confirmed,” said Rob Nichols, President/CEO of the American Bankers Association. “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.”
Johnson previously served in senior leadership positions at the Bureau from December 2017 until March 2020, during the first Trump Administration. His tenure included serving as Acting Deputy and then Deputy Director for a majority of that period. He has also served in a key policy and legal role on Capitol Hill as Chief Financial Institutions Counsel of the House Financial Services Committee for more than five years. After leaving the CFPB, he was a partner at a major law firm for more than 2 years before becoming Managing Director of Patomak Global Partners (a strategy, risk management, and compliance financial services consulting firm) for about 2 years. He then joined Capital One in November 2024 as Vice President, U.S. Card Compliance Officer.
Consumer Bankers Association (CBA) President /CEO Lindsey Johnson also praised Johnson’s nomination.
“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,” Johnson said. “A transparent, accountable CFPB focused on its core mission will strengthen outcomes for consumers, financial institutions, and the U.S. economy.”
Mortgage Bankers Association President/CEO Bob Broeksmit cited Johnson’s experience in applauding the choice. “MBA welcomes the nomination of Brian Johnson to serve as Director of the CFPB,” he said. “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 plays a vital role in the mortgage process, Broeksmit said.
“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.”
The President/CEO of America’s Credit Unions also said he is pleased by the choice.
“Johnson has significant experience in financial policy, and a strong understanding of the importance of right-sized regulations,” said Scott Simpson. “We look forward to the opportunity to work with Johnson in this capacity to advance reforms at the bureau, should he be confirmed.”
However, Senate Banking, Housing and Urban Affairs ranking Democrat Sen. Elizabeth Warren, D-Mass. blasted the nomination of the former Trump Administration official.
“Starting in August, Russ Vought can no longer legally serve as Donald Trump’s hatchet man at the CFPB,” Warren said, based on the federal law that prevents Vought from continuing to serve as Acting Director at the bureau. She continued, “[s]o here comes the next hatchet man to try to finish the job and gut an agency that has returned more than $21 billion to cheated consumers. Trump promised to lower costs on ‘day one.’ Instead he is doing everything in his power to reward the big banks and giant corporations that scam Americans out of their hard-earned money.”
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