The No. 2 official at the Consumer Financial Protection Bureau has resigned, citing the burden of commuting between his home in Massachusetts and Washington, D.C.

According to documents obtained by SubPrime Auto Finance News on Friday, CFPB deputy director Steve Antonakes indicated he’s leaving the bureau to pursue opportunities that will give keep him closer to his wife and children.

“Having commuted from Boston for nearly five years, I have logged hundreds of thousands of miles and missed entirely too many class plays, teacher conference meetings and Little League games,” Antonakes wrote to CFPB colleagues on Thursday afternoon. “Accordingly, I have decided to return home to Massachusetts and pursue opportunities that will ensure that I am home for dinner with my wife and family and can assist my five children with their homework.

“I want to express my gratitude and reinforce just how proud I am of all of you,” he continued. “I began this journey in November 2010 and was excited by the idea of building a new institution charged with and equipped to appropriately oversee our nation’s consumer financial markets. Despite having arrived with a deep background in this field, I have learned so much from you.”

Antonakes continued his message by mentioning CFPB director Richard Corday about being “forever grateful” for “leadership and the opportunities that he has provided me.”

Antonakes went on to say, “Looking back, more so than any particular accomplishment — and there have been many — I will remember most fondly the friendships and the time we spent working together toward our shared goals. My time at the bureau has been the apex of my 25 years in government and bank regulation. I have been blessed to do worthwhile and interesting work alongside, smart, tenacious and dedicated public servants.

Antonakes closed by saying his choice “is in many ways a bittersweet decision.  However, I am confident that this team will continue to do great work for American consumers.”

Antonakes began his professional career as an entry level bank examiner with the Commonwealth of Massachusetts Division of Banks in 1990. He later served in numerous managerial capacities before being appointed by successive governors to serve as the commissioner of banks from December 2003 until November 2010, becoming only the second career bank examiner to ever serve in that capacity.

Antonakes also previously served as the first state voting member of the Federal Financial Institutions Examination Council (FFIEC), as the vice chairman of the Conference of State Bank Supervisors (CSBS), and as a founding member of the governing board of the Nationwide Mortgage Licensing System (NMLS).

In March 2007, Antonakes received NeighborWorks America’s Government Service Award for his work in combatting foreclosures.

Cordray followed up Antonakes’ message with his own via email to CFPB employees.

“Steve has been an enormous asset to the bureau, and a great friend and colleague to me since our time together in SEFL (supervision, enforcement and fair lending) in the early days of the bureau,” Cordray said. “His contributions to this agency have been extensive in his dual roles as deputy director and SEFL associate director, and I know many of you share my appreciation for all his work.

“I have great respect for Steve’s decision to move closer to his family given my own situation with a weekly interstate commute,” Cordray continued while referencing his travels to his home state of Ohio. “It is not easy to juggle work at the bureau with family far away during the week, and Steve has done so incredibly well.”

Cordray closed by briefly mentioning what the CFPB might do next.

“We will provide additional information in the coming weeks about acting responsibilities for both the deputy director and SEFL associate director roles,” Cordray said. “For now, please join me in thanking Steve for his exceptional service to the bureau and to American consumers.”

It apparently didn’t take long for word within the Beltway to spread about Antonakes’ decision.

Richard Hunt, president and chief executive officer of the Consumer Bankers Association immediately shared his reaction.

“Steven Antonakes’ insight as a career examiner brought valued credibility to two important roles at the bureau:  deputy director and associate director for supervision, enforcement and fair lending,” Hunt said. “He struck the right balance between the safety and soundness of a bank and consumer protection. 

“We wish him all the very best as he returns home to his family in Massachusetts and the New England Patriots,” Hunt went on to say.