Massachusetts Commissioner of Banks Steve Antonakes, whose office also regulates state-chartered credit unions, was named today to lead the team setting up the depository institution supervision at the new Consumer Financial Protection Bureau.
Antonakes, who has been the top financial services regulator in the Bay State for 7 years, will be the point person for building the CFPB's consumer supervision bureau. He began his career as a Community Reinvestment Act bank examiner and worked his way up to the department's top job.
Elizabeth Warren, President Obama's point person in setting up the CFPB, announced Antonakes' appointment and also named Peggy Twohig to be the top regulator of non-depository institutions. Twohig is currently head of the Treasury Department's Office of Consumer Protection.
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