The Bureau does not have a safety and soundness mandate. Nevertheless, we very much care about the financial health of banks and nonbanks. As a veteran of two banking crises, I can tell you unequivocally that, in my view, consumer protection is not in conflict with safety and soundness. Consumers benefit from a healthy, competitive, and diversified financial services system through greater access to credit and competitive pricing. Ultimately, both financial and consumer compliance performance are dependent on strong management. Seldom do institutions excel in one and not the other.
Good afternoon. Thank you for the invitation to speak with you today. I know that we share common goals: a strong and vibrant housing sector, as well as a highly competitive, sustainable economy.
I would like to thank Dr. Maria Sheehan, President of Truckee Meadows Community College for having us here today. And thank you all for coming to this meeting of our Consumer Advisory Board here in the “Biggest Little City in the World.” The Consumer Advisory Board offers us valuable insights and expertise which help us […]
Prepared Remarks of CFPB Deputy Director Steve Antonakes at the American Bankers Association Regulatory Compliance Conference
Thank you for the opportunity to speak with you today. I know that both those of us at the Bureau and those of you here today share common goals: a strong and vibrant financial sector, as well as a highly competitive economy that works for Americans in both the short run and the long run.
Thank you for making time for me today at CBA Live and for the valuable input you all have given us over the past few years. I appreciate the strong and candid relationship we have developed and our ability to discuss issues fruitfully whether we agree or disagree. Today I would like to share some updates on our work at the Consumer Bureau.
Thank you for inviting me today to speak with you. The Bureau and the U.S. Chamber of Commerce have many areas where we can and should be working together. And we have goals in common: a strong and vibrant financial sector, as well as a highly competitive economy that works for Americans in both the short run and the long run.
Deputy Director Steve Antonakes Remarks at the National Community Reinvestment Coalition Annual Conference
Good afternoon. It is a pleasure to be here and have the opportunity to speak at NCRC’s Annual Conference. The Bureau has benefited from its strong working relationship with NCRC on issues ranging from consumer protection to access to credit. We thank you for your continued partnership.
Prepared Remarks of CFPB Deputy Director Steve Antonakes at Protecting Nevada’s Consumers: A Common Ground Conference
Good morning. It is my pleasure to be with you at this Common Ground Conference. I would like to thank Attorney General Masto for hosting this important event, along with Jessica Rich and all of our colleagues at the Federal Trade Commission. I know that an enormous amount of work goes into planning these events, but I think we can all agree that it is well worth the effort. The FTC has held many of these Common Ground Conferences around the country, and we are delighted to be participating in this one.
Prepared Remarks of Deputy Director Antonakes at the Federal Reserve Bank of Atlanta 2014 Banking Outlook Conference
Good morning. It is my pleasure to have the opportunity to be with you today at the Federal Reserve Bank of Atlanta’s 2014 Banking Outlook Conference. I think an open dialogue among regulators and industry participants benefits everyone involved. Today, I will update you on a few of our key initiatives and discuss how we […]
Prepared Remarks of Steven Antonakes Deputy Director of the Consumer Financial Protection Bureau Mortgage Bankers Association Orlando, Florida February 19, 2014 Good afternoon. Thank you for the invitation to be here with you today. By way of background, I am a career bank regulator. I cut my teeth during the end of the S&L Crisis […]
Thank you Chairman Gruenberg. The Bureau enjoys an outstanding working relationship with the FDIC. On behalf of Director Cordray, thank you for your continued leadership on matters concerning the unbanked. I appreciate the opportunity to be with you all today to talk about the important mission of expanding and improving services for some of the most vulnerable among us—the unbanked and underbanked. We all witnessed the toll the recent financial crisis took, particularly on the underserved populations. By way of background, I am a career bank regulator having started in this line of work over 23 years ago as an entry-level bank examiner. In my prior capacity, I had a mandate to ensure compliance with safety and soundness, consumer protection, the Community Reinvestment Act, and fair lending.
Prepared Remarks of Steve Antonakes Deputy Director of the Consumer Financial Protection Bureau Meracord Enforcement Press Call October 3, 2013 Today the Consumer Financial Protection Bureau is taking action against Meracord LLC, a leading debt-settlement payment processor, for helping debt-settlement companies collect illegal fees from consumers. Once approved by a federal district judge, our proposed […]
The Bureau is a data driven agency, because Congress recognized that the Bureau cannot do its job of protecting consumers and honest businesses unless it understands the consumer financial markets it oversees.
Today’s event follows similar industry roundtables on debt collection practices that the FTC organized. These have proven valuable in surfacing important issues and allowing a wide range of stakeholders to air their views and discuss policy solutions. So, again, we are delighted to be here today.
As a veteran of two banking crises, I can tell you unequivocally that, in my view, consumer protection is not in conflict with safety and soundness. Consumers benefit from a healthy, competitive and diversified financial services system through greater access to credit and competitive pricing.
Since our inception, the Bureau has enjoyed a productive working relationship with the American Bankers Association and its state member affiliates which I believe has benefited us both.
The Consumer Bankers Association and the Consumer Financial Protection Bureau have enjoyed a cooperative working relationship since the Bureau’s inception which I believe has benefited us both.