President Trump sent a new list of nominations to the Senate on Tuesday, unveiling his picks to lead several key financial regulatory agencies in his second administration.
Jonathan McKernan was tapped to chair the Consumer Financial Protection Bureau (CPFB). The former board member at the Federal Deposit Insurance Corporation (FDIC) announced his plans to step down from the agency Monday.
His nomination comes as the CFPB has been thrown into turmoil in recent days, after acting director Russell Vought ordered employees to halt all work and announced he would not take the agency’s last drawdown from the Federal Reserve.
Staff were also told that the CFPB’s headquarters would be closed for the week, and employees affiliated with Elon Musk’s Department of Government Efficiency (DOGE) reportedly gained access to the agency’s data systems.
The rapid series of events has prompted concern from employees who have noted the striking similarities to the actions taken at the United States Agency for International Development (USAID) last week.
Several top CFPB officials are leaving the agency amid the chaos. Two officials — Lorelei Salas, assistant director for supervision policy, and Eric Halperin, assistant director for the Office of Enforcement — announced their resignations Tuesday.
A CFPB spokesperson told The Hill that both had been placed on administrative leave. The agency’s deputy director, Zixta Martinez, was also placed on leave Tuesday, the spokesperson confirmed.
Trump on Tuesday also tapped Jonathan Gould to serve as the comptroller of the currency. Gould previously served in the first Trump administration as senior deputy comptroller and chief counsel at the Office of the Comptroller of the Currency (OCC).
Brian Quintenz, global head of policy at Andreessen Horowitz’s cryptocurrency arm a16z crypto, was nominated to chair the Commodity Futures Trading Commission (CFTC). He served as a commissioner at the CFTC during Trump’s first term.
“The @CFTC plays a critical role in maintaining robust hedging and price discovery markets that are the envy of the globe,” Quintenz said in a post on X. “The agency is also well poised to ensure the USA leads the world in blockchain technology and innovation. I look forward to working with President Trump’s incredible financial regulatory team.”
Quintenz is the latest in a series of crypto-friendly appointees in the new Trump administration. His nomination was met with excitement by the industry.
“His real experience in the crypto industry along with his knowledge of the CFTC makes him perfectly suited to lead the agency — and aligned with President Trump’s vision for crypto in the United States,” Blockchain Association CEO Kristin Smith said in a statement.
