Massachusetts' commissioner of banks, Steve Antonakes, has been tapped to oversee the depository supervision unit of the new Consumer Financial Protection Bureau (CFPB) implementation team.
Antonakes, who began his career in 1990 as a bank examiner, has served as the state's commissioner of banks since 2003. During that time, he helped lead negotiations on a number of multi-state settlements with mortgage lenders, and he was instrumental in the development and implementation of the Nationwide Mortgage Licensing System. Antonakes was also state regulators' first voting member on the Federal Financial Institutions Examination Council.
David J. Cotney, chief operating officer of Massachusetts' Division of Banks, has been named acting commissioner.