White House to Nominate Key Financial Regulators, Including Jonathan McKernan for CFPB

The White House plans to nominate Jonathan McKernan as director of the Consumer Financial Protection Bureau (CFPB), according to sources. McKernan, a former Federal Deposit Insurance Corporation (FDIC) board member, would take over an agency undergoing significant changes after being stalled by the Trump administration.

McKernan served on the FDIC board since January 2023 and previously worked as counsel for the U.S. Senate Banking Committee under Republican Senator Pat Toomey. His experience also includes roles at the Federal Housing Finance Agency and the Treasury Department.

Additionally, the White House intends to nominate Jonathan Gould as head of the Office of the Comptroller of the Currency (OCC) and Brian Quintenz as chairman of the Commodity Futures Trading Commission (CFTC). Gould, a former Jones Day partner, previously worked for crypto firm Bitfury and served as chief counsel for the Senate Banking Committee under then-Chairman Mike Crapo. If confirmed, he will oversee large national banks.

Quintenz, currently head of policy at a16z crypto, the venture capital firm Andreessen Horowitz’s crypto arm, has been advising the Trump transition team on cryptocurrency policy. The CFTC, which regulates derivatives markets, is expected to have an expanded role in shaping cryptocurrency regulations under the new administration.

The nominations were first reported by Punchbowl News. A White House spokesperson did not immediately respond to requests for comment. All nominations require U.S. Senate confirmation.