
Nominee Sidesteps Staffing Question
Brian Johnson, President Donald Trump's pick to lead the Consumer Financial Protection Bureau, told lawmakers Thursday he has not made up his mind about plans to cut most of the regulator's workforce.
The Capital One vice president appeared before the Senate Banking Committee for his confirmation hearing, where he promised to approach staffing decisions with an open mind. Johnson currently serves as the bank's U.S. card compliance officer, a role he has held since November 2024.
Democratic Senators Press on Vought Proposals
Multiple Democratic members of the committee questioned Johnson about job reductions proposed by Acting Director Russ Vought, who has led the CFPB since the start of the Trump administration.
When asked whether he believes the administration should eliminate the bureau entirely, Johnson said that is not his intention. Pressed on whether he disagreed with any of Vought's actions so far, Johnson replied that none came to mind.
Warren Opposes Confirmation
Senator Elizabeth Warren, the Banking Committee's ranking Democrat, announced her opposition to Johnson's nomination during opening remarks.
The most damning thing about Mr. Johnson's nomination is that he has gotten a rousing stamp of approval from the outgoing director, Russ Vought, who spent a year and a half trying to kill the agency and who now says Mr. Johnson will, 'do a great job' running it — yeah, running it — into the ground.
The Massachusetts lawmaker argued that Vought's endorsement of Johnson as someone who would do a great job should disqualify the nominee from consideration.
Johnson Background and Priorities
Johnson held four different positions at the CFPB between December 2017 and March 2020, ending his tenure as deputy director. Following his government service, he worked as a partner at a law firm and managing director at a consultancy before joining Capital One.
In written testimony submitted for the hearing, Johnson outlined three priorities if confirmed:
- Protecting consumers, particularly those vulnerable to fraud and scams
- Promoting accountability by ensuring the CFPB operates within its statutory authority
- Modernizing the bureau's operations
Source
Original coverage by PYMNTS.
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