Deputy Director Paoletta Assumes CFPB Acting Director Role

Mark Paoletta became Acting Director of the Consumer Financial Protection Bureau on August 1, 2026, when Russell Vought’s service as Acting Director came to an end. Paoletta assumed the role in his capacity as the Bureau’s Deputy Director.

The change was driven by the Federal Vacancies Reform Act rather than by any policy decision. The Act limits the period during which an individual may serve as the acting head of an agency, and Vought reached that limit on August 1. The same statute permits a first assistant or other senior agency official to serve in an acting capacity until the Senate confirms a nominee, which is the authority under which Paoletta now serves. Vought continues to serve as Director of the Office of Management and Budget, a position he held throughout his tenure at the Bureau.

The leadership change comes while Brian Johnson’s nomination to serve as the CFPB’s next Senate-confirmed Director remains pending. The Senate Banking Committee held Johnson’s confirmation hearing on July 23, 2026 (previously discussed here), but has not scheduled a vote on the nomination. The Bureau will continue to operate under acting leadership until a nominee is confirmed and sworn in.

Press reports indicate that Vought will remain at the Bureau as a senior adviser until a Senate-confirmed Director takes office. The Bureau has not publicly confirmed those reports.

Putting It Into Practice: Paoletta’s elevation completes the leadership transition anticipated when he became Deputy Director in June (previously discussed here). For regulated institutions, the practical significance of the change is continuity rather than redirection. Paoletta has been a central participant in the Bureau’s regulatory, supervisory, and enforcement posture under the current administration, and the reported arrangement keeping Vought at the agency in an advisory capacity points in the same direction. Institutions should not read the transition as a signal of shifting priorities, and should continue monitoring the confirmation process and any CFPB regulatory, supervisory, or enforcement developments during the interim period.