CFPB

  www.consumerfinance.gov
Work in HR? Unlock Free Profile

CFPB Reviews

Updated Jun 27, 2014
All Employees Current Employees Only

2.7 21 reviews

57% Approve of the CEO

CFPB Director Richard Cordray

Richard Cordray

(14 ratings)

48% of employees recommend this company to a friend
13 Employee Reviews Back to all reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great Agency

    Anonymous Employee (Current Employee) Washington, DC

    ProsIt's a new agency, so there isn't too much red tape yet.

    ConsThere are no internal hiring policies.

    Advice to Senior ManagementNone.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    great mission difficult work environment

    Professional (Current Employee) Washington, DC

    ProsUnder most circumstances, working here does give you the opportunity to make a difference for consumers in the financial marketplace.

    ConsThere is a lack of accountability at the place. A lot of managers got there by happenstance and are very threatened by others with experience. For a lot of experienced professionals coming into this environment, it can be brutal, as some managers are dead set on asserting their superiority and putting others down. One solution for some managers is to hire all their friends, favor them, and create a clubby atmosphere. Another approach is for certain managers to set on certain "credentials" as showing you get to "join the club," whether it be the school you went to (most likely), a firm or agency (i.e. Treasury) you worked out, or some immeasurable coolness factor. Moreover, in at least some areas of the agency, you do not need to be brilliant to "get the job done," and they are more than happy to have their "buds" receive the best assignments even if work is not done at as well as a 21st Century Agency should be working.

    Advice to Senior ManagementRight now, I am hesitant to advise management. While there are occasional positive signs, at other times management seems insincere in making improvements and/or has created such a chilling effect that employees are not comfortable in outing existing issues and offering sincere advice.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    Nepotism, Cronyism, Discrimination, Hostile work environment

    Lawyer (Current Employee) Washington, DC

    ProsFederal benefits, great mission, downtown DC office.

    ConsStay away!!!! Incompetent and arrogrant managers create a work environment that is retaliatory, discriminatory, and hostile. Promotion potential are based on "who you know" or worse "who you sleep with." Despite all the hearings in Congress, everything is still the same and management continue to retaliate against employees. Alot of workers have PTSD.

    Advice to Senior ManagementSenior management knows about these problems. They are the problem.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Nepotism, cronyism, discriminatory

    Anonymous Employee (Current Employee)

    ProsFederal benefits, downtown DC, easy to get to, you get to go home at the end of the day and escape some of the worst managers ever

    ConsSome of the worst managers you can ever imagine, if you are not friends with a manager or higher-up your career will stall. You cannot imagine the level of incompetence and favoritism that exists in a fairly new organization.

    Advice to Senior ManagementLearn how to treat people with respect

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Very prejudiced..unfair and deceitful managers/management

    Anonymous Employee (Current Employee)

    ProsAgency with a good mission - only in the books!!

    ConsNo respect for employees, extreme favoritism. Managers unfortunately have too much power vested in them and do not know how to handle it...As a result they play with the careers of their staff. Top management knows very well as to what goes on but have opted to either gang up or do nothing about it!! It is shameful that an agency that calls itself a 21st century agency and claims to "work" for consumers, treats its employees in such a deceitful way...

    Advice to Senior ManagementMake amends before it is too late!!! come up with internal hiring policies ASAP and DONOT lose your valuable staff!! Treat your employees with more respect...

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    7 people found this helpful  

    nightmare scenario for employees

    (Current Employee)

    Proscompensation can be competitive for a federal agency, and benefits are good

    ConsThere are two significant problems with this agency - (1) they hired in a rush and hired the wrong people and (2) there are no policies or procedures in place to help or protect employees. It is widely known that the CFBP was in a rush to hire when they opened their doors in 2011, and sadly, they hired senior managers who were unqualified, inexperienced and with little willingness or ability to lead and mentor employees. Most were from failed institutions like Fannie Mae and Freddie Mac. The senior managers then promoted their friends and cronies, further complicating the problem. There was and still is very little review or oversight. The result has been nothing short of a disaster. The complete lack of managerial experience has driven employees out the door in droves. Although the agency is a little over 2 years old, employees have been leaving after only one year or sometimes even less.

    The second big problem is the lack of policies and procedures. Employees are at the managers' whim and have to no recourse. The Human Capital/Labor Relations department is either unwilling or unable to help employees. Managers basically do whatever they want, whenever they want. Employee morale is extremely low and hundreds of grievances have been filed. There have also been many, many complaints about discrimination based on race, age, gender, etc, and most people think the problem is snowballing.

    I have been in the federal sector for nearly a decade and this is the most difficult environment I have worked in.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    7 people found this helpful  

    Absolutely horrifying experience. Managers behave like dictators - this place is throwback to the East German Stasi

    Legal Role (Current Employee) Washington, DC

    ProsThe mission is admirable but what federal agency doesn't have a good mission?

    ConsOne word: management. They do not listen to employees, treat them like absolute trash and many have problems with employees of different racial and ethnic backgrounds. This place needs an overhaul.

    Advice to Senior ManagementPlease treat your employees better.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    7 people found this helpful  

    Great mission, poorly executed.

    Manager (Current Employee) Washington, DC

    ProsCompensation is above average for government; Benefits are competitive; Flexible work schedules

    ConsExecutive management is trying to reinvent government but, in the process, has decided to "throw the baby out with the bath water." As the Wall Street Journal and American Banker have reported, the Bureau is having problems attracting and retaining experienced examiners, rule writers and managers from the original FFIEC regulatory agencies (FDIC, OCC, etc.) because prior regulatory experience isn't valued at the CFPB.

    A significant percentage of management has no prior experience regulating banks, yet the CFPB is responsible for regulating all of the largest banks in the country. The Bureau has been hiring contractors to perform significant amounts of substantive work that should be performed by professional staff. Granted, it's a start-up agency, but that's no excuse for allowing the same consulting firms that advise the big banks (and depend on them for their profitability) to tell the Bureau's executives how to be a regulator.

    The Bureau has hired extensively from Ivy League schools, and has shown strong preference for hiring lawyers, even if those individuals have little to no prior experience in the financial services industry. Yes, there are lots of very smart people on staff, they are ill-equipped to go "toe-to-toe" with the seasoned professionals that are on staff at the nation's largest banks. Suggestion: When reading other reviews of the Bureau, pay attention to how few people mention their expertise in banking, or how much they enjoy working with people who are experts in their field.

    Advice to Senior ManagementThe CFPB has been "reinventing the wheel" and keeps singing the praises of square-edged wheels. Rather than focusing so much on innovation and making a clean break from the legacy FFIEC agencies, focus on getting the basics right - - training, supervisory strategy, data analysis, etc.

    Management's current approach of relying almost exclusively on smart but inexperienced (from a bank regulatory perspective) staff to figure things out "on the fly" leaves the Bureau vulnerable to being steamrolled by seasoned banking attorneys and compliance experts from the nation's largest banks.

    Try to realize that there are Dodd-Frank tranferees who chose to dedicate their pre-CFPB careers to "fighting the good fight" from within the legacy FFIEC agencies. Most of these transferees were attracted to the CFPB by the prospect of implementing significant, meaningful and thoughtful changes to the way that consumer protection regulations are written and enforced. Rather than treating these seasoned regulators as pariahs and dismissing them as part of the problem that led to the CFPB's creation, try recognizing and valuing them as significant contributors to the Bureau's regulatory strategy.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    5 people found this helpful  

    No structure, no policies!

    Consumer Response Specialist (Current Employee) Washington, DC

    ProsSalary. Higher than your average government job. The enhanced benefits are good, but you can get the same benefits with other federal regulatory agencies if not better.

    ConsThere are no plocies in place, no structure. Hard to get a definitive answer. The employees arent treated well.

    Advice to Senior ManagementInstead of being a know it all which you arent, treat the employees with more respect

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Innovative Federal Agency With An Important Mission

    Anonymous Employee (Current Employee)

    ProsA new (and 21st century) agency with a great mission: to educate and protect the American consumer. The talent, dedication, and passion of ALL employees at CFPB provides a tremendous working environment. No matter what your role is, you will find the opportunity to be innovative and establish a sound market that works for consumers. CFPB is the next big leader in public service.

    ConsComing from the private sector, I was accustomed to a fast pace environment. While we are a few notches above many other agencies, we encompass the same hurdles when implementing change.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Worked for CFPB? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.