WASHINGTON--President Trump plans to nominate Jonathan McKernan—his previous pick to lead the Consumer Financial Protection Bureau—as undersecretary for domestic finance at the U.S. Department of the Treasury, the Department announced Friday.
Treasury did not state if McKernan would fill both positions, suggesting he may no longer be the nominee to lead the CFPB, an appointment which is awaiting U.S. Senate confirmation.
McKernan has been an advisor at the Treasury Department while awaiting Senate confirmation to lead the CFPB.
"During that time, McKernan has become an integral part of the Secretary’s senior team. His continued service at Treasury will ensure that his experience and expertise are best put to advancing the President’s America First agenda," Treasury said.
McKernan previously served on the board of directors of the Federal Deposit Insurance Corporation and held senior roles at the Federal Housing Finance Agency, the U.S. Senate, and the Treasury Department. Before his government service, McKernan was an attorney in private practice focused on banking and consumer finance laws, Treasury noted.