If you love junk fees, higher interest rates, fewer banking options, and all the other documented effects of bank mergers, then you (along with bank lobbyists) will likely love President Donald Trump’s new pick to run the nation’s consumer protection agency.
On Tuesday, Trump announced the new chief of the Consumer Financial Protection Bureau, the consumer watchdog agency created in response to the 2008 financial crisis: Jonathan McKernan, a former banking regulator who’s pushed to approve bank megamergers that harm consumers and that the CFPB has actively fought to prevent.
