Sen. Elizabeth Warren, the ranking member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, sent a letter to Capital One's chief executive seeking communications involving the Consumer Financial Protection Bureau and Brian Johnson, President Donald Trump's nominee to lead the CFPB. The request is aimed at clarifying whether Johnson, who was a Capital One vice president at the time, had any role in discussions related to the CFPB's decision to drop a major enforcement action against the bank. The letter links Johnson's nomination to a Biden administration CFPB case that accused Capital One of cheating customers out of more than USD 2 billion in savings account interest. That lawsuit was dropped a month into the current Trump administration. Warren said the timing and Johnson's position at Capital One raise questions about whether he was directly or indirectly involved in the matter or advised the bank on how to avoid liability. The letter asks Capital One to provide answers and requested materials by July 7, 2026, as part of the Senate's advice and consent process for Johnson's nomination.
U.S. Senate Committee on Banking, Housing and Urban Affairs2026-06-30
U.S. Senate Committee on Banking Housing and Urban Affairs ranking member requests Capital One records tied to Brian Johnson and dropped CFPB case
Sen. Elizabeth Warren, the ranking member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, asked Capital One for communications involving Brian Johnson and the CFPB after the agency dropped a major case against the bank. Warren tied the request to Johnson's nomination to lead the CFPB and to questions about any role he may have had while serving as a Capital One vice president. Capital One was asked to respond by July 7, 2026.