Trump names nominees for CFPB director, OCC comptroller

President Donald Trump Tuesday issued a series of nominations for various positions within his administration, including new leaders for the CFPB and Office of the Comptroller of the Currency (OCC).

Jonathan McKernan has been nominated to serve as CFPB director. McKernan served as an FDIC board director and stepped down from his position Monday, citing the end of his term as well as the need for political balance on the board, which would have had four Republicans on its five-person board. Agency rules prohibit no more than three members of the same political party. However, the CFPB director holds a position on the FDIC board, so should he be confirmed McKernan would be back on the board.

McKernan also has experience in banking and consumer financial laws, as well as serving in counsel and advisor roles on the Senate Banking Committee, Federal Housing Finance Agency, and Treasury Department. On McKernan’s X profile, he has shared views on debanking, bank misconduct, and financial reforms.

In addition, Trump nominated Jonathan Gould to serve as Comptroller of the Currency. He is currently a partner at Jones Day, and previously served as senior deputy comptroller and chief counsel at the OCC. Trump also nominated Brian Morrissey, Jr., to serve as general counsel at Treasury. While in a former role at Treasury, Morrissey worked closely on the Paycheck Protection Program.

Over the weekend, Trump named OMB Director Russ Vought to serve as acting CFPB director, and former NCUA chairman Rodney Hood to serve as acting Comptroller of the Currency. Both will retain those positions while McKernan and Gould move through the Senate confirmation process.
 

heelo