CFPB Names New Second-in-Command to Oversee Enforcement, Lending

The Consumer Financial Protection Bureau on Wednesday officially named Steven Antonakes as the agency’s deputy director. He has been serving as the acting deputy director and will continue to maintain his responsibilities as the associate director for supervision, enforcement, and fair lending at the CFPB.  

“I am happy to announce that Steve will be the official deputy director of the Bureau,” said CFPB Director Richard Cordray in a statement. “He has adeptly led—and will continue to lead—our supervision, enforcement, and fair lending teams. Steve’s experience, his knowledge, and his judgment are vital in helping us achieve our mission of fostering a thriving, sustainable marketplace for both consumers and responsible businesses.”

Antonakes has more than two decades of experience as a financial services regulator. He joined the CFPB in November 2010 as the assistant director for large bank supervision and was named the associate director for supervision, enforcement, and fair lending in June 2012.

His background in financial services began as an entry-level bank examiner with the Commonwealth of Massachusetts Division of Banks in 1990. Antonakes also served in numerous managerial capacities, including as former Commissioner of Banks Thomas J. Curry’s deputy for nine years, before being appointed by successive governors to serve as the Commissioner of Banks from December 2003 until November 2010.  

Other career highlights include serving as the first state voting member of the Federal Financial Institutions Examination Council; as the vice chairman of the Conference of State Bank Supervisors; and as a founding member of the governing board of the Nationwide Mortgage Licensing System. Antonakes was the recipient of the NeighborWorks America’s Government Service Award for his Work in combatting foreclosures in March 2007.

The newly-named deputy director received his B.A. from Penn State University; his M.B.A. from Salem State University; and his Ph.D. in Law and Public Policy from Northeastern University. 

Antonakes fills the role formerly held by Raj Date, the CFPB’s first deputy director. Date, who was instrumental in the CFPB’s establishment and early leadership, left the position in January.

Written by Alyssa Gerace

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