A top official from the CFPB last week tried to tamp down industry anxiety over the presence of bureau enforcement attorneys during examinations. Its more about maximizing synergies and promoting efficiency and consistency than it is a harbinger of trouble, he basically said. Our approach of having enforcement personnel involved in the examination process has garnered a great deal of attention, CFPB Acting Deputy Director Steven Antonakes conceded before attendees at the American Bankers Associations government...
Sometimes the most significant thing to come out of an encounter with a newsmaker is not what he says but what he hears. Such was the case last week when CFPB Acting Deputy Director Steven Antonakes addressed attendees at the American Bankers Associations government relations event in Washington, DC, and took questions afterwards. During the question-and-answer portion after his prepared remarks, one attendee told Antonakes that small banks in Oklahoma are exiting the mortgage business in a number of small communities over fears of potential...