CFPB Reviews

Updated March 27, 2015
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CFPB Director Richard Cordray
Richard Cordray
26 Ratings

Employee Reviews

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  1. 2 people found this helpful

    Discrimination, Retaliation, Favoritism Abound

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst in Washington, DC
    Current Employee - Financial Analyst in Washington, DC

    I have been working at CFPB full-time (less than a year)

    Pros

    - Great downtown DC location
    - Great outward facing company image
    - Excellent at selling image/storytelling

    Cons

    -Extremely high turnover
    -Highly inexperienced managers with no training have a lot of discretion
    -Poor HR practices (no escalation process, no managerial oversight, employee sensitive info not protected)
    -No career path
    -Arbitrary promotions and raises (not based on tenure, merit, or path. only "friends" or bedmates of managers get promoted)
    -Discrimination and favoritism in work assignments (mostly white employees are the "face" of the CFPB)
    -Politically-charged work environment (organizational culture is closer to a political campaign for Democrats instead of a nonpartisan fed agency)
    -You are targeted by management if you criticize anything. Kiss your chances of advancing goodbye

    Advice to ManagementAdvice

    - Value your employees
    - Do not lead by fear, mistrust, threats or intimidation
    - Bring in experienced leadership
    - Focus less on short term fixes and address the real reasons why employees are unhappy
    - Make sure employees have a real career path
    - Follow HR/legal practices

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. Agency does not treat employees well

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Washington, DC
    Current Employee - Anonymous Employee in Washington, DC

    I have been working at CFPB full-time (more than 3 years)

    Pros

    The mission is admirable and the CFPB markets itself extremely well

    Cons

    The CFPB is promising in theory but in reality, employees are not provided equal opportunities to succeed and excel. There is favoritism, cronyism and a very high turnover rate for a federal agency. The HR infrastructure is completely lacking and employees are unable to turn to anyone when they face problems. When employees complain, they experience retaliation by managers (and Human Capital), and are denied promotions and salary increases. Promotions are based on who you sleep with and who your friends are. Differences in treatment between white and minority employees is noticeable. Many managers and employees lack cultural and racial sensitivity as well and this can make the environment very difficult.

    Although management has made some superficial changes, such as changing the performance review system, the root causes of the CFPB's problems have not been addressed. The attrition rate has been increasing lately and management's response is just to say that attrition is natural. There needs to be more emphasis on retention.

    Advice to ManagementAdvice

    Treat your employees fairly and respectfully and they will stay.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 6 people found this helpful

    HR and Examination Policy are weak and require improvement

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Analyst in New York, NY
    Current Employee - Analyst in New York, NY

    I have been working at CFPB full-time (more than a year)

    Pros

    Salary: Above par salary for federal government. Entry level Examiners at the CN30/40 Level may expect to receive a starting salary from 58k-90k depending on experience. General career ladder for non-commisioned examiners go from CN30/40/51. Top pay is dependent on your locality. The most you can make at CN/51 with locality is 85K.

    Personal Growth: CFPB is one of those marketable Agencies to work for. Expect to get numerous job offers from entities and private consulting firms. You will have the ability to trailblazer and shape the future of financial consumer protection laws. In addition the CFPB is notorious for hiring Tier 1 Ivy League grad/under-grad & JD students. As a result, great ideas are generally bounced around and shared between employees. However lack of experience in the real world gets those ideas deleted.

    Alternative Work Schedule: Expect to be off every other Friday.

    Work-life Balance: Travel only during business hours and travel and arrive home before the end of your work day.

    Retirement: Since the CFPB is subsidized by the Federal Reserves. Your TSP; you contribute 7% Agency will Match 8%

    Health: is FEBH and Metlife (free of charge)

    Cons

    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.

    Advice to ManagementAdvice

    No free advise will be extended or awarded, please read above.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 2 people found this helpful

    Nepotism at it's finest

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at CFPB full-time (more than 3 years)

    Pros

    Federal benefits, good pay downtown DC

    Cons

    Racist, unprofessional, delusional, no accountability. When it comes to setting the bar low for the very worst in federal employee working environments, this organization is state of the art. Lying, despotic, and utter disdain for people that are not part of their club is part of the "manager's" toolbox.

    Advice to ManagementAdvice

    Learn how to manage, and that accountability goes two ways.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 7 people found this helpful

    Great Mission Poor Execution

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Washington, DC
    Former Employee - Anonymous Employee in Washington, DC

    I worked at CFPB full-time

    Pros

    The idea behind this Bureau is so crucial to many of the problems faced by poor people in America. It's existence is one of the only avenues that the bottom 80% have to communicate injustice to Washington.

    Cons

    The problem is that the majority of employees are upper class resume stuffers who don't care at all about the mission. The hire their friends with the hopes of cashing in favors later. The blatant apathy and nepotism of this place makes it both a colossal and a miserable place to work.

    Advice to ManagementAdvice

    Stop hiring your friends and their kids. Start caring about the people the Bureau is designed to protect.

    Doesn't Recommend
    No opinion of CEO
  7. 10 people found this helpful

    Nepotism, Cronyism, Discrimination, Hostile work environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Lawyer in Washington, DC
    Current Employee - Lawyer in Washington, DC

    I have been working at CFPB full-time (more than a year)

    Pros

    Federal benefits, great mission, downtown DC office.

    Cons

    Stay 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 ManagementAdvice

    Senior management knows about these problems. They are the problem.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 6 people found this helpful

    Nepotism, cronyism, discriminatory

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at CFPB full-time (more than 3 years)

    Pros

    Federal 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

    Cons

    Some 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 ManagementAdvice

    Learn how to treat people with respect

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 5 people found this helpful

    Very prejudiced..unfair and deceitful managers/management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at CFPB full-time (more than a year)

    Pros

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

    Cons

    No 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 ManagementAdvice

    Make 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...

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 5 people found this helpful

    I had a horrible experience at the CFPB some of the lead management are cut throat and do not allow any room for error.

    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CFPB

    Pros

    This would be a great place to work if you are not a contractor they have great benefits and there pay scale is current with government agencies.

    Cons

    Not a great place for contractors to work they do not offer training and expect you to perform a job with SOP that are not correct.

    Advice to ManagementAdvice

    Offer training to contractors and allow time to learn the job adequately. Allow room for human error and think of others. Some of the lower level management do not have people skill and know how to treat their employees.

    Doesn't Recommend
    No opinion of CEO
  11. 9 people found this helpful

    nightmare scenario for employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at CFPB full-time (more than a year)

    Pros

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

    Cons

    There 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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