Jonathan McKernan
Jonathan McKernan | |
|---|---|
 Official portrait | |
| Director of the Consumer Financial Protection Bureau | |
Nominee | |
| Assumed office TBD | |
| President | Donald Trump |
| Preceded by | Rohit Chopra |
| Member of the Board of Directors of the Federal Deposit Insurance Corporation | |
| In office January 5, 2023 – February 10, 2025 | |
| President | Joe Biden Donald Trump |
| Preceded by | Jelena McWilliams |
| Succeeded by | Vacant |
| Personal details | |
| Political party | Republican |
Jonathan P. McKernan is an American lawyer. He is the nominee to serve as director of the Consumer Financial Protection Bureau (CFPB) and previously was a member of the board of directors of the Federal Deposit Insurance Corporation (FDIC).
Early life
[edit]McKernan attended the University of Tennessee, where he earned a Bachelor of Arts and Master of Arts in economics, and the Duke University School of Law, where he received a Juris Doctor with high honors.[1] At the University of Tennessee, he graduated summa cum laude.[2] He is married.[3]
Career
[edit]After his education, McKernan became a banking lawyer and worked for Wilmer Cutler Pickering Hale, Dorr LLP and Hogan Lovells US LLP.[4] In 2017, he became an aide to U.S. Senator Bob Corker of Tennessee, advising him on financial issues.[2][3] Soon after, he joined the United States Department of the Treasury where he helped draft the Treasury Housing Reform Plan in September 2019.[2] In October 2019, he was named senior counsel for policy at the Federal Housing Finance Agency (FHFA).[2] He later served as a counsel to Senator Pat Toomey on the staff of the Senate Committee on Banking, Housing, and Urban Affairs.[1]
In September 2022, McKernan was nominated by President Joe Biden to serve on the board of directors of the Federal Deposit Insurance Corporation (FDIC) as part of the Republican minority.[5][6] He was sworn in as a member of the board of directors on January 5, 2023.[1] At the FDIC, McKernan "sought tougher scrutiny of the stakes that the nation's largest asset managers have in banks," and he co-led a special committee that investigated "allegations of the agency's toxic workplace and pushed for reforms."[6] He announced his resignation from the FDIC on February 10, 2025, stating that his term had expired.[7]
On February 11, 2025, President Donald Trump nominated McKernan to serve as director of the Consumer Financial Protection Bureau (CFPB).[8]
References
[edit]- ^ a b c "Jonathan McKernan". Federal Deposit Insurance Corporation.
This article incorporates text from this source, which is in the public domain.
- ^ a b c d "FHFA Announces Key Hires". Federal Housing Finance Agency. October 24, 2019.
- ^ a b "Jonathan McKernan". LegiStorm.
- ^ "Toomey Applauds Confirmation of GOP Nominees Jonathan McKernan and Travis Hill to FDIC". United States Senate. December 19, 2022.
- ^ Sutton, Sam; Davidson, Kate (September 21, 2022). "A White House nomination surprise". Politico.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ a b Stratford, Michael; Harty, Declan; O'Donnell, Katy (February 11, 2025). "Trump taps bank, Wall Street regulators for top posts". Politico.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ Johnson, Katanga (February 10, 2025). "FDIC Board Director Jonathan McKernan to Leave US Bank Watchdog". Bloomberg.com – via Yahoo.com.
- ^ Goldstein, Matthew; Cowley, Stacy (February 11, 2025). "Trump Names 2 New Top Financial Regulators". The New York Times – via archive.today.
{{cite news}}: CS1 maint: multiple names: authors list (link)
