The American Banker reported earlier this week that Steven Antonakes, the former CFPB Deputy Director, has joined Eastern Bank in Boston as a senior vice president and chief compliance officer. According to the article, the bank has $9.6 billion in assets. As a result, the bank does not currently meet the asset threshold for CFPB supervision, which is more than $10 billion in assets.
The CFPB announced that Meredith Fuchs, who also serves as the CFPB’s General Counsel, has been named Acting Deputy Director. According to the CFPB, although Ms. Fuchs has announced her intention to step down as General Counsel, she will continue to serve as General Counsel and Acting Deputy Director until a permanent replacement is selected for each position.