CFPB Nominee Johnson Pledges ‘Open Mind’ On Staffing, Agency’s Future
By CU Today Staff —
WASHINGTON— Brian Johnson, President Trump's nominee to lead the CFPB, told senators Thursday he would approach the agency's future with an "open mind," declining to endorse plans to slash most of the Bureau's remaining workforce while signaling he favors structural reforms over eliminating the CFPB altogether, Reuters reported.
During his confirmation hearing before the Senate Banking Committee, Johnson said he would independently review staffing levels if confirmed, as the administration weighs whether to revive plans to dramatically reduce the agency after litigation temporarily halted those efforts.
Pressed repeatedly by Democratic senators over the Trump Administration's efforts to dismantle the CFPB, Johnson said, "I would pledge to you to have an open mind to take a look at staffing levels with the agency." At the same time, he declined to identify any CFPB policy decisions by Acting Director Russell Vought with which he disagreed, saying, "None come to mind at the moment." Johnson instead argued that the agency should be restructured by Congress, adding, "I have testified in the past that properly structured and properly governed, the CFPB is capable of great good. However, I think there are deficiencies in the current legislative structure, and I have advocated in the past for changes," Reuters said.
Johnson, who currently works in a compliance role at Capital One and previously served as a senior CFPB official during President Trump's first term, also faced questions about potential conflicts of interest. According to ethics documents, he has agreed to recuse himself from CFPB matters involving Capital One for two years after the bank waived repayment requirements tied to his compensation package. His disclosures also showed professional ties to other companies regulated by the CFPB, including banks that operate the Zelle payments network—entities whose CFPB enforcement actions were dropped under Vought's leadership.
The hearing comes as the CFPB remains in limbo after nearly 18 months of legal battles over the Trump Administration's attempt to sharply reduce the agency's operations. Courts have blocked efforts to dismiss most of the Bureau's employees, and government attorneys have said that litigation over those workforce reductions has been paused while Johnson's nomination proceeds, allowing him to determine whether to continue pursuing the Administration's plans if confirmed.
Johnson's nomination now moves to the Republican-controlled Senate Banking Committee, which must vote on whether to advance him to the full Senate. If confirmed, he would inherit an agency whose enforcement activity has been largely frozen and whose future structure remains the subject of both congressional debate and ongoing court challenges, Reuters noted.
Originally reported by CU Today.