Warren presses Trump CFPB nominee on conflicts of interest, workforce cuts

Sen. Elizabeth Warren (D-Mass.) on Thursday pressed President Trump’s nominee to lead the Consumer Financial Protection Bureau (CFPB) regarding conflicts of interest and the Trump administration’s cuts to the agency. 

During Brian Johnson’s nomination hearing in front of the Senate Banking Committee, ranking member Warren noted the consumer protection watchdog, under acting director Russell Vought, dropped a lawsuit against Capital One last year after the company donated $1 million to Trump’s inaugural committee.

The initial CFPB lawsuit, which the agency filed during the final days of the Biden administration, alleged Capital One cheated consumers out of more than $2 billion in interest payments on their savings accounts. 

Warren asked Johnson, “Will you commit to notifying Congress and the inspector general [of the Federal Reserve] immediately if the White House contacts you about an enforcement action against a Trump family company or a big donor that cheated families?”

Johnson replied that during his two-plus years at the CFPB during the first Trump administration, such a scenario “never happened.” 

The Massachusetts Democrat followed up, “That’s not my question. My question is, if it does, will you notify Congress, and will you notify the inspector general?”

She continued, “Look, there’s obviously a problem here.........

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