Skip to main content

Ex-CFPB Deputy Antonakes Joins the Private Sector

Phil Hall
Aug 11, 2015
Eastern Bank Logo

The former number two executive at the Consumer Financial Protection Bureau (CFPB) has gone over to the other side, joining a Boston-based bank in an executive compliance position.

Eastern Bank has announced that Steve Antonakes has been hired as senior vice president and chief compliance officer. In a press statement, the bank stated that Antonakes will report directly to Barbara Heinemann, executive vice president of the enterprise risk management division. This will be the first time in his professional career that Antonakes worked in a private sector financial services position.

Antonakes stepped down as the CFPB’s deputy director last month after less than two years, citing the disruptive nature of commuting from his Massachusetts home to his Washington, D.C., office, as a prime reason for leaving the agency. Antonakes, who previously served as the Massachusetts Commissioner of Banks and vice chairman of the Conference of State Bank Supervisors, gained national prominence through a February 2014 speech before a Mortgage Bankers Association conference with comments that suggested mortgage servicers continued to treat borrowers in an unprofessional manner. Antonakes was the second person to hold the CFPB role of deputy director—his predecessor, Raj Date, left the regulatory world to launch an investment advisory company—and the CFPB has yet to name a full-time replacement for Antonakes. 

Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021