CFPB's Antonakes discusses exam process, bureau operations

03/13/2013 | AmericanBanker.com (subscription required)

Steve Antonakes, the acting deputy director of the Consumer Financial Protection Bureau, told attendees of CBA LIVE on Tuesday to be patient with the bureau and its exam process. "We are a startup organization in many respects," he said. "I would just encourage you to not always think the worst." In a question-and-answer session with CBA President and CEO Richard Hunt, Antonakes said the CFPB has hired about two-thirds of its exam team so far. If an exam report is delayed, Antonakes said, "it doesn't mean that enforcement or some type of rigid corrective action is being considered."

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