On March 6, the U.S. Senate Banking Committee advanced Jonathan McKernan’s nomination to serve as director of the CFPB in a 13-11 vote along party lines, with all Democrats opposing. As previously covered by InfoBytes, the White House announced McKernan’s nomination after his resignation from the FDIC Board. Sen. Tim Scott (R-SC) expressed support for McKernan, stating he would bring accountability and reforms to the CFPB, while Sen. Elizabeth Warren (D-MA) criticized the nomination, suggesting it would enable fraudsters. McKernan also submitted answers to the written questions for the record Senator Warren submitted on February 27.
