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Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – August 2025 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Orrick, Herrington & Sutcliffe LLP

Financial services industry trade groups pen letter to Treasury Secretary Bessent on cybersecurity risks

On June 9, multiple financial services trade associations sent a letter to Treasury Secretary Scott Bessent expressing concerns about cybersecurity risk management practices at federal regulatory agencies following the OCC’s...more

Sheppard Mullin Richter & Hampton LLP

CFPB Director Nominee to Move to Treasury Finance Role

On May 9, the U.S. Department of the Treasury announced that President Trump intends to nominate Jonathan McKernan to serve as the Undersecretary of Domestic Finance. McKernan had been awaiting Senate confirmation to lead the...more

Ballard Spahr LLP

Trump Administration to withdraw McKernan’s nomination to serve as CFPB Director

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President Trump will withdraw Jonathan McKernan’s nomination as CFPB Director, as he nominates him as the Treasury Department’s Undersecretary of Domestic Policy, the New York Times and Law360 reported....more

Ballard Spahr LLP

Trump to nominate CFPB nominee to Treasury Department position

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Treasury Secretary Scott Bessent announced May 9 that President Trump intends to nominate Jonathan McKernan, his nominee to head the CFPB, as the Undersecretary of Domestic Finance at Treasury....more

Ballard Spahr LLP

Trump nominates former FDIC Board Member Jonathan McKernan to head CFPB

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President Trump has nominated Jonathan McKernan to be the Director of the CFPB. ...more

Ballard Spahr LLP

President Trump fires Rohit Chopra as Director of the CFPB and appoints Treasury Secretary Bessent as acting director

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Although many pundits speculated that President Trump would appoint Russell Vought as Acting Director once Vought is confirmed by the Senate to be Director of OMB, the CFPB reported today that, on January 31, Trump actually...more

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