CFPB’s Antonakes to Resign

Consumer Financial Protection Bureau Deputy Director Steve Antonakes has announced his resignation. Antonakes, a former commissioner of banking in Massachusetts, has been with the bureau since its founding and has served as deputy director for two years.

ABA EVP Wayne Abernathy noted that Antonakes often met with ABA and banker delegations and that his history with banking supervision was valuable. “He was responsible for setting up the bureau’s examination program and for giving it more of a supervisory approach rather than an enforcement approach, thus helping institutions to address issues early before they become major problems,” Abernathy said. “We hope his successor will likewise have a strong background in banking and understand how bank services can be very effective in meeting consumers’ needs.”