Steven Antonakes, the top bank supervisor at the new Consumer Financial Protection Bureau, says supervision of banks with more than $10 billion in assets will start as planned on July 21, Bloomberg News reports. Webster Financial, People’s United Financial and First Niagara Financial are among Connecticut major lenders subject to the agency’s oversight.
“We are all engines ready to go,” Antonakes said Wednesday at an American Bankers Association conference in Washington, Bloomberg reports.
Antonakes, the former commissioner of banks for Massachusetts, is assistant director for large bank supervision at the CFPB, which was created by last year’s Dodd-Frank regulatory overhaul. It is scheduled to begin operations next month.
Webster, based in Waterbury, and Bridgeport-based People’s United each has assets approaching $20 billion. Buffalo-based First Niagara, which recently acquired former New Haven lender NewAlliance Bank, has around $30 billion in assets.
