Mark Paoletta became acting director of the Consumer Financial Protection Bureau after Russell Vought’s term expired over the weekend, American Banker reported.
Vought – who is director of the Office of Management and Budget – has served as acting director of the bureau since President Trump fired former Director Rohit Chopra last year. Vought’s term as acting director expired on Saturday, leaving Paoletta as the current acting director. Paoletta is general counsel at OMB and served has second-in-command at the bureau under Vought, according to the news site.
President Trump has nominated former CFPB official Brian Johnson to lead the agency. The Senate Banking Committee held a hearing in July on Johnson’s nomination but has not yet voted on it.
