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Ex-US FDIC board member McKernan to be tapped as CFPB chief, bankers association says

( February 12, 2025, 18:18 GMT | Official Statement) -- MLex Summary: The Consumer Bankers Association welcomed President Donald Trump's statement that he plans to nominate former US Federal Deposit Insurance Corp. board member Jonathan McKernan to serve as director of the beleaguered US Consumer Financial Protection Bureau. The acting CFPB director Russell Vought, who doubles as head of the US Office of Management and Budget, threw the consumer watchdog into disarray this past weekend by closing its offices and ordering all employees to stop work. McKernan, who served on the FDIC since January 2023 until his resignation this week, had worked for two Republican senators before that.Statement follows below:...

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