WASHINGTON—Will Jonathan McKernan head the CFPB? That may make take a little time to determine, America’s Credit Unions said.
As CUToday.info reported, President Trump plans to nominate Jonathan McKernan—his previous pick to lead the Consumer Financial Protection Bureau—as undersecretary for domestic finance at the U.S. Department of the Treasury, the Department announced Friday. Treasury did not state if McKernan would fill both positions, suggesting he may no longer be the nominee to lead the CFPB, an appointment which is awaiting U.S. Senate confirmation.
McKernan has been an advisor at the Treasury Department while awaiting Senate confirmation to lead the CFPB.
“We have not heard of a new nominee,” said America’s Credit Union Chief Advocacy Officer Carrie Hunt during a call with the media Monday. “Certainly I think it is still a possibility (McKernan will head the CFPB) because he has been working out since he's been in (his new CFPB role).”
Hunt said there are a “lot of balls” in the air relative to the CFPB.
“But we should have clarity about the future of the CFPB, and who will be leading the Bureau, once the budget process plays out a little bit,” Hunt said.