CFPB No. 2 Antonakes to step down; Ito offers best wishes

JULY 17, 2015 -- Although the agency has yet to announce it officially, multiple news sources in Washington are reporting today that Steve Antonakes, the second-ranking official at the Consumer Financial Protection Bureau (and a former state regulator) is tendering his resignation.

According to press reports, Antonakes reportedly sent an email to staff on Thursday announcing his resignation as deputy director, citing a desire to spend time with his family. There was no word yet, officially, on when Antonakes will leave. CFPB Director Richard Cordray reportedly has said a successor will be named in the coming weeks.

Steve Antonakes

Before joining the CFPB in November 2010, Antonakes was the state banking commissioner in Massachusetts. He joined the bureau just months after its creation, as an assistant director in charge of large bank supervision. He became deputy director of the agency in February of 2013.

“We wish Steve the best as he moves on, and thank him for his efforts,” said Lucy Ito, president and CEO of NASCUS. “As a former state banking regulator, he truly understood the both challenges facing state supervisory agencies and the value that states bring to the regulatory process. We appreciate the time that he was able to share with us during his tenure, and hope his successor can strive to match his insights into our work.”

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