President Donald Trump nominated Jonathan McKernan to be director of the Consumer Financial Protection Bureau in an indication that he wants more than an acting head at an agency that his administration closed for this week.
Trump tapped McKernan, a former director at the Federal Deposit Insurance Corporation, for a five-year term at the helm of the CFPB. The nomination may suggest the administration is seeking to change the agency, rather than shut it down, as many Democrats suspect.
“The nomination of McKernan indicates an interest in having the agency continue to function, albeit in a much more limited capacity,” said Andrew Glass, a partner in the consumer financial services practice at the Boston office of law firm K&L Gates.
