On June 2, reports indicated that the CFPB has appointed Mark Paoletta as Deputy Director, positioning him to succeed Acting Director Russel Vought when Vought’s temporary “acting” appointment ends later this year. The reported change comes ahead of August 1, 2026, when Vought can no longer serve as Acting Director under the Federal Vacancies Reform Act.

Paoletta currently serves as the CFPB’s Chief Legal Officer and reportedly will retain that role. Reports also indicate that the Bureau’s former Deputy Director, Geoffrey Gradler, has been reassigned to serve as Chief of Staff.

Putting It Into Practice: The reported appointment suggests the CFPB is preparing for continuity in agency leadership after Vought’s departure. Under the current administration, the Bureau has reduced enforcement activity, withdrawn guidance and rulemaking initiatives, and undertaken substantial organizational changes (previously discussed here and here). Financial institutions should continue monitoring CFPB leadership developments and assess how changes at the Bureau may affect supervisory, enforcement, and regulatory priorities.

Further contributions to this article by Chris Wong, law clerk in the firm's Washington, D.C. office.