State Regulators Tapped for Federal Regulator Roles
Nov. 17, 2010 State regulators Steve Antonakes, Mark Pearce and Joesph Smith were recently tapped for positions within federal regulatory agencies.
Antonakes, the commissioner of banks for Massachusetts, is joining the new Consumer Financial Protection Bureau to lead the depository and non-depository institution teams. Antonakes began his career at the Massachusetts Division of Banks as an examiner in 1990 and has served as the commissioner for the last seven years.
In addition to Antonakes, two state regulators from North Carolina are leaving the states for federal regulatory positions. Mark Pearce, chief deputy commissioner of banks for North Carolina, is now the director of the newly-established Division of Depositor and Consumer Protection at the Federal Deposit Insurance Corporation (FDIC). In North Carolina, Pearce managed the supervision of non-depository financial institutions.
Joesph Smith, North Carolina's Commissioner of Banks, was nominated by President Obama to serve as the new director of the Federal Housing Finance Agency. This position requires Senate confirmation.
Antonakes' role as commissioner included oversight of Massachusetts' state-chartered credit unions. He was active in NASCUS throughout his career, and is a champion for state's rights. NASCUS congratulates him on his new role, and looks forward to continuing to work with him in his new capacity at the CFPB.