Trump's CFPB Pick Agrees To Recuse Himself From Capital One Matters If Confirmed
By CU Today Staff —
WASHINGTON— Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, has agreed to recuse himself from any CFPB matters involving Capital One for up to two years if confirmed, according to a newly released ethics agreement aimed at addressing potential conflicts stemming from his current role at the banking company. Johnson also pledged to resign from Capital One and forfeit any unvested stock awards upon confirmation, according to the agreement filed with the Office of Government Ethics. Law360 reported.
The ethics pledge comes as Johnson's nomination has drawn scrutiny because he currently serves as Capital One's vice president and U.S. Card Compliance Officer. His nomination also follows the CFPB's decision earlier this year to dismiss a high-profile enforcement action accusing Capital One of depriving customers of more than $2 billion in interest on savings accounts. Sen. Elizabeth Warren (D-MA) has questioned whether Johnson played any role in discussions surrounding that case and argued his position raises significant conflict-of-interest concerns.
According to the ethics agreement, Johnson will not participate personally and substantially in any particular matter involving specific parties in which Capital One is a party or represents a party during the required recusal period. The agreement is intended to comply with federal ethics laws governing executive branch nominees and to prevent any appearance that his prior employment could influence CFPB decisions affecting the bank.
Johnson previously served as the CFPB's deputy director during President Trump's first administration before moving into private-sector and consulting roles, including Patomak Global Partners, and later joining Capital One in late 2024. If confirmed by the Senate, he would replace Acting CFPB Director Russell Vought and oversee an agency that has sharply shifted its regulatory and enforcement priorities under the Trump Administration.
Originally reported by CU Today.