The Senate Banking Committee heard testimony from Jonathan McKernan, President Trump’s nominee to head the Consumer Financial Protection Bureau.
The hearing also featured Dr. Stephen Miran, nominee to be Chairman of the Council of Economic Advisors; Jeffrey Kessler, nominee to be Under Secretary of Commerce for Industry and Security, Department of Commerce; and William Pulte, nominee to be Director of the Federal Housing Finance Agency.
A recording of the hearing can be viewed at Senate.gov.
McKernan most recently served on the Board of Directors of the Federal Deposit Insurance Corporation. He also worked on Capitol Hill for Senators Pat Toomey (R-PA) and Bob Corker (R-TN) and was Senior Counsel at the FHFA.
What they’re saying: “Under my watch, the CFPB will take all steps necessary to implement and enforce the federal consumer financial laws and perform each of its other statutorily assigned functions,” says McKernan. “But the CFPB will do this by centering its regulation on real risks to consumers and by focusing its enforcement on bad actors.”
