"Those who have worked with him, both at the CFPB and in Massachusetts, describe a similar person: analytical, calm and unbiased," writes American Banker’s Victoria Finkle in a profile of Steven Antonakes, the Consumer Financial Protection Bureau's associate director for supervision, enforcement and fair lending.
Fellow regulators sing his praises – and so do subjects of his oversight. "He's not a regulator for regulation's sake. He wants to have a set of predictable rules that allow banks to operate in safe and sound manner," says Richard Schaberg, a partner at Hogan Lovells, who has represented banks in from of him.
When hiring Antonakes prioritizes qualities other have observed in him: fairness and an even keel. "There are times when there are disagreements, and it's incumbent upon the examiner to always keep cool and just present the information. It's never personal," he says
Though bankers have bristled at the creation of the CFPB, "Antonakes' appointment may provide some comfort for an industry facing a host of new compliance challenges. Industry veterans who know him say Antonakes is driven to set rules that help the industry run better, not bog it down," writes Finkle.
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