Warren Presses Capital One Over CFPB Nominee’s Role In Dropped Suit
By CU Today Staff —
WASHINGTON—Sen. Elizabeth Warren (D-MA) is pressing Capital One to disclose whether executive Brian Johnson, President Donald Trump’s nominee to run the CFPB, had any role in the agency’s decision to drop a major enforcement case against the bank.
Warren, the top Democrat on the Senate Banking Committee, sent the request to Capital One CEO Richard Fairbank, according to the committee.
The CFPB sued Capital One in January 2025, alleging the bank cheated consumers out of more than $2 billion in savings account interest by obscuring a higher-yielding 360 Performance Savings product from existing 360 Savings customers. The CFPB later dismissed the case with prejudice on Feb. 27, 2025.
Warren said Johnson was a Capital One vice president when the case was dropped and had previously served in senior CFPB roles during Trump’s first Administration. Bloomberg Law reported Johnson was Capital One’s vice president and U.S. card compliance officer at the time, and Warren is seeking correspondence from November 2024 through June 2025, including emails between Johnson and CFPB employees.
Warren wrote Johnson’s Capital One role “raises significant concerns” about whether he was involved in the enforcement matter or advised the bank on how to avoid responsibility. She asked Capital One to provide answers by July 7 as the Senate considers Johnson’s nomination.
Originally reported by CU Today.