August 20, 2014

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August 18, 2014

Steve Antonakes, Acting Deputy Director of the Consumer Financial Protection Bureau (CFPB), Addresses Bankers

On April 17, Steve Antonakes, Acting Deputy Director of the Consumer Financial Protection Bureau (CFPB), addressed the American Bankers Association meeting in Washington, D.C. Mr. Antonakes’s remarks should be required reading for any banker who wants to understand the mission of the CFPB, and how its mission is different than that of traditional bank regulators. It is worth noting that the CFPB itself will examine the more than 200 Federal Deposit Insurance Corporation (FDIC)-insured institutions with assets in excess of $10 billion, and will write the consumer protection rules for all FDIC-insured institutions as well as non-FDIC-insured participants in the financial system.

Mr. Antonakes’s speech is available here.

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About this Author

Jeffrey M. Werthan, Mergers Acquisitions Attorney, Katten Muchin law firm
Partner

Jeffrey M. Werthan is head of the firm’s Banking practice. He has extensive experience representing clients in connection with bank formations, both public and private capital raises, mergers and acquisitions of financial institutions, compensation for financial institution executives and bank regulatory and enforcement issues.

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