Monitoring the financial services industry to help companies navigate through regulatory compliance, enforcement, and litigation issues
On June 10, President Trump sent to the Senate his nomination of Brian Johnson to serve as Director of the Consumer Financial Protection Bureau (CFPB or Bureau) for a five-year term.The CFPB has been without a confirmed, full-time director since former Director Rohit Chopra was fired on February 1, 2025 (discussed here).
Johnson currently serves as an executive at Capital One. According to a report by the ABA Banking Journal, he previously served as deputy director of the CFPB during Trump’s first term and has an extensive background on Capitol Hill, having held roles including policy director and chief financial institutions counsel on the House Financial Services Committee.
Since February 2025, the Bureau has been operating under the acting leadership of Russell Vought, who serves as both Acting Director of the CFPB and the head of the Office of Management and Budget. In his role as Acting Director of the CFPB, Vought also serves as director on the FDIC’s board of directors. President Trump had previously sent to the Senate a nomination for Stuart Levenbach for the position, but that nomination has been characterized as a technical maneuver designed to allow Vought to continue leading the Bureau in an acting capacity without triggering a Senate confirmation requirement.
Johnson’s nomination now heads to the Senate for confirmation.
The nomination of Brian Johnson signals continuity with the current administration’s approach to the CFPB: measured skepticism of expansive regulatory action, an emphasis on operating within statutory limits, and a focus on tailored rulemaking. Johnson’s prior experience as CFPB deputy director and his deep experience on Capital Hill suggest he is well-positioned to navigate both the Bureau’s internal dynamics and the congressional relationships that will shape its agenda.
For financial institutions and financial services companies supervised by the Bureau, a Johnson-led CFPB would likely continue the shift away from the aggressive enforcement posture of the Chopra era. The likely trajectory is a recalibration toward rulemakings that are more narrowly drawn, a reduced scope for supervision and examinations, and enforcement actions that track closer to clear statutory authority.
Stefanie takes a holistic approach to working with clients both through compliance counseling and assessment relating to consumer products and services, as well as serving as a zealous advocate in government inquiries, investigations, and consumer litigation.
With over two decades of consumer financial services experience in federal government, in-house, and private practice settings, and a specialty in fair lending regulatory compliance, Lori counsels clients in supervisory issues, examinations, investigations, and enforcement actions.
Chris is the co-leader of the Consumer Financial Services Regulatory practice at the firm. He advises financial services institutions facing state and federal government investigations and examinations, counseling them on compliance issues including UDAP/UDAAP, credit reporting, debt collection, and fair lending, and defending…
Chris is the co-leader of the Consumer Financial Services Regulatory practice at the firm. He advises financial services institutions facing state and federal government investigations and examinations, counseling them on compliance issues including UDAP/UDAAP, credit reporting, debt collection, and fair lending, and defending them in individual and class action lawsuits brought by consumers and enforcement actions brought by government agencies.
Troutman Pepper Locke helps clients solve complex legal challenges and achieve their business goals in an ever-changing global economy. With more than 1,600 attorneys in 30+ offices, the firm serves clients in all major industry sectors, with particular depth in energy, financial services, health care and life sciences, insurance and reinsurance, private equity, and real estate. Learn more at troutman.com.
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