Consumer Financial Protection Bureau Reviews

The CFPB, like most financial regulatory agencies, is grossly underrepresented in the number of racial/ethnic minorities it hires, retains and promotes to senior management positions. This results in a lack of diversity in decision-making, discriminatory treatment in work allocation and an extremely hostile work environment. It is not a secret within the agency that minorities have not fared well at the Bureau, however, its higher level management officials continue to ignore problems that have been readily identified, which is ironic given that the Bureau is so aggressively pursuing financial institutions for their violations of anti-discrimination laws.

Office Culture: All levels of Management, Executive, Senior, and Field Mangers are generally hired and recruited through networking and relationships. It is not a fluke where as 80% of Management has worked with each other in past experiences. As a result favoritism, EEO and discrimination is true to nature and has been sited and noted by Congress. Corrective actions are being taken however, only time will tell. Policy on Career Ladder and Promotion: Weak and none. The ability to climb the career ladder is flawed by expectations which has not been vetted and approved by HR and the Union. As a result Do not expect to make your career ladder promotion with in 12 month of your employment. The true range is 15-19 month. This will negatively impact your ability to make career ladder timely as your subsequent career ladders will also be affected by the time lapse. Annual Appraisals and Feedback: Examiners work in team environment which are lead by Examiner in charge (EIC). The EIC role is a team leader and Non-Managerial. However post examination feedback and appraisals are written by EIC's reviewed and relied upon by mangers to assess and develop your annual appraisal. This is a HR flaw as non-managers should not be drive your ability to be promoted. EICs do not have HR training and EEO expertise. There are inherent risk such as EIC favoritism to fabricate the truth or maliciously created negative opinions about a team member to mitigate promotional competition. In addition EIC may also offer a friend a specific role to assist the friend in being promote or provide an easier assignment. Leadership is weak as many Field Managers have no managerial experience and are generally hired by networking. As a result the CFPB is faced with extremely high turnover. Most Field Managers do not have Consumer Financial Protection Knowledge and Experience. Many are Dodd Frank Transferees from other regulatory Bodies many were perhaps even failing (NCUA). "Look it up in the regulations" is a common Field Manger remark and comment. It is normal and stylish to see CFPB employees leave and transfer to the FDIC, OCC, FRB, NCUA, and SEC. Although Management is proud to offer 10 positions they fail to realize the loss of 30 employees. Favoritism in assignments: Many assignments are driven by who managers enjoy working with. It is common to see examinations in Puerto Rico and Florida whereas team participants all know each other fairly well. Or Teams in which are lead by Managers who recruit based of friendly relationships and not merit.