Trump faucets CFPB director nominee Jonathan McKernan for Treasury publish

President Donald Trump plans to appoint Jonathan McKernan to be undersecretary of home finance on the Treasury Department, months after the president tapped McKernan to guide the embattled Consumer Financial Protection Bureau, Treasury Secretary Scott Bessent introduced Friday.

A observation issued via the Treasury Department didn’t say that Trump has pulled McKernan’s CFPB nomination from Senate attention.

But it does word that McKernan “has been an advisor at the Treasury Department while awaiting Senate confirmation to lead the Bureau of Consumer Financial Protection.”

“During that time, McKernan has become an integral part of the Secretary’s senior team,” the observation mentioned. “His continued service at Treasury will ensure that his experience and expertise are best put to advancing the President’s America First agenda.”

The Trump management has labored to intestine the CFPB because the president took workplace in January.

The Senate has now not voted on McKernan’s nomination for CFPB, however his nomination was once favorably reported out of the Committee on Banking, Housing and Urban Affairs, after he seemed sooner than that panel in February.

CNBC has asked remark from McKernan, the White House, the Treasury Department and the Senate Banking Committee.

Trump in February fired Rohit Chopra, who have been the CFPB director since 2021.

McKernan up to now served at the board of administrators of the Federal Deposit Insurance Corporation and held senior roles on the Federal Housing Finance Agency, the Senate, and Treasury.

— Additional reporting via CNBC’s Kevin Breuninger and Emily Wilkins