Trump's new pick to run consumer finance watchdog to face Senate

Johnson did not respond to a request for comment. His nomination is the third to lead the agency since Trump returned to office last year, though the White House withdrew both prior nominees.

During that time, acting Director Russell Vought halted virtually all agency activities and sought to fire the vast majority of its staff, saying the agency was "woke" and would be abolished. Federal courts have so far blocked this.

Widely seen as a knowledgeable industry insider, Johnson has in the past also been a vocal critic of the CFPB. David Silberman, a former CFPB official whose tenure overlapped with Johnson's, said he expected Johnson would not seek to kill the agency.

"I do not think he would pursue an agenda of decapitating the CFPB although I believe he will feel obligated to carry out the president’s directives and policy priorities," said Silberman.