On February 11, the White House announced the nomination of Jonathan McKernan as CFPB Director. Recently, McKernan announced his resignation from the FDIC board due to Rodney E. Hood’s addition, which resulted in more Republican members than allowed by law.

A Tennessee native, McKernan was sworn in as a member of the Board of Directors on January 5, 2023. He served as Counsel to Ranking Member Pat Toomey (R-PA) on the Senate Committee on Banking, Housing, and Urban Affairs staff. From 2019 to 2021, he was Senior Counsel at the Federal Housing Finance Agency; from 2018 to 2019, he was Senior Policy Advisor at the Department of the Treasury; and from 2017 to 2018, he was Senior Financial Policy Advisor to Senator Bob Corker (R-TN).

Before his government service, McKernan was an attorney in private practice from 2007 to 2017, focusing on banking and consumer financial laws. He holds a B.A. and M.A. in economics from the University of Tennessee (1997–2002) and a J.D. from Duke University School of Law (2004–2007).