WASHINGTON — The Senate Banking Committee on Thursday advanced the nomination of Brian Johnson to become the next director of the Consumer Financial Protection Bureau, moving President Donald Trump’s nominee a step closer to confirmation as credit unions urged the full Senate to act quickly.
The Republican-controlled committee voted 13-11 along party lines to recommend Johnson’s confirmation, according to Reuters. His nomination now moves to the full Senate, where a vote has not yet been scheduled.
Johnson, a Capital One executive and former CFPB deputy director during Trump’s first administration, outlined three priorities for the bureau during his July confirmation hearing: protecting consumers, particularly those vulnerable to fraud and scams; promoting accountability by ensuring the CFPB operates prudently and within its statutory authority; and modernizing the agency’s operations.
Clear Rules Urged
Johnson also said the CFPB should establish clear rules for financial markets and remain within the authority granted to it by Congress. Senate Banking Committee Chairman Tim Scott (R-SC) said at the hearing that the bureau should protect consumers while remaining focused on its statutory mission.
Johnson told senators he would approach the proposed reduction of the CFPB’s workforce with an open mind. The Trump administration has paused plans to dismiss most of the bureau’s remaining employees to allow Johnson, if confirmed, to consider whether to proceed with those reductions, Reuters reported.
America’s CUs Responds
America’s Credit Unions welcomed the committee action and called for Johnson’s prompt confirmation.
“Having a confirmed director at the CFPB is a priority for America’s Credit Unions,” Chief Advocacy Officer Kathleen Coulombe said in a statement. “There are a number of outstanding issues that we have asked the CFPB to address, including providing regulatory relief from burdensome HMDA regulations for small credit unions, redrafting the 1033 rulemaking to ensure a level playing field between credit unions and fintechs, and focusing bureau resources on unregulated actors – not credit unions – who are the original consumer protectors. We urge the full United States Senate to act quickly on this nomination.”
DCUC Responds
“We welcome the Senate Banking Committee’s advancement of Brian Johnson’s nomination and the continued process toward new leadership at the Consumer Financial Protection Bureau. The CFPB plays an important role in protecting consumers, and its policies have a direct impact on credit unions’ ability to serve their members,” DCUC President/CEO Anthony Hernandez, Ret. U.S. Air Force Colonel, said in a statement.
Added Chief Advocacy Officer Jason Stverak in a statement. “Credit unions need a CFPB that is focused on its core mission while recognizing the unique role credit unions play in their communities. We look forward to working with CFPB leadership on a practical, balanced regulatory approach that protects consumers, provides greater clarity for credit unions, supports responsible innovation, and avoids unnecessary burdens that can make it harder to deliver affordable financial services. We will continue advocating for policies that strengthen consumer financial protections while preserving credit unions’ ability to meet the evolving needs of their members nationwide.”
A Promise to Recuse Himself
Johnson has pledged to recuse himself for two years from CFPB matters involving Capital One if confirmed. He has served as the bank’s vice president and U.S. card compliance officer since November 2024.
Democrats opposed Johnson’s nomination, citing his financial industry ties and concerns about the Trump administration’s efforts to reduce the CFPB’s workforce and operations.
