The Senate Banking Committee voted to advance nominations for CFPB and Federal Housing Finance Agency (FHFA) directors Thursday.

During his testimony before the committee, CFPB director nominee Jonathan McKernan said that under his watch, the bureau would “take all steps necessary to implement and enforce the federal consumer financial laws and perform each of its other statutorily assigned functions. But the CFPB will do this by centering its regulation on real risks to consumers and by focusing its enforcement on bad actors.”

Committee Chair Sen. Tim Scott, R-S.C., praised McKernan earlier this week at the 2025 Governmental Affairs Conference, saying if he is confirmed, he will ensure “we actually have a consumer protection bureau that actually focuses on protecting the consumer.”

FHFA director nominee Bill Pulte said, if confirmed, “my number one mission will be to strengthen and safeguard the housing finance system.” America’s Credit Unions consistently advocates for housing finance reforms that supports credit unions’ ability to serve members with accessible and affordable options.

Next up for the nominees is a confirmation vote by the full Senate.