CFPB
2.7 of 5 21 reviews
www.consumerfinance.gov Washington, DC 1000 to 5000 Employees

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
21 Employee Reviews
in
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    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

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    1 person 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

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    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

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    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

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    2 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.

    Anonymous Employee (Former Employee)

    ProsThis 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.

    ConsNot 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 Senior ManagementOffer 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.

    No, I would not recommend this company to a friend

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    6 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

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    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

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    Great Mission, Great People, and open to change

    Anonymous Employee (Former Employee)

    ProsI have seen a significant effort for the Bureau and some of it's offices trying to listen to the employees. The Bureau is a great place to work with dedicated individuals and you can actually see the effect that the work has on the public. The Bureau is still in a bit of a startup phase and has some growing pains, but this is a great place to be at.

    ConsI would say that the biggest issue is IT and their inability to function correctly. Their policies and lack of knowledge is very apparent and is hindering the Bureau and the employees from doing great work.

    Advice to Senior ManagementMy advice would be to bring in experienced federal IT professionals to get the shop working correctly and functioning properly.

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

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    9 people found this helpful  

    Minorities unfortunately are not treated well. Very disappointing.

    Legal (Former Employee)
    Washington, DC

    ProsAdmirable mission and compensation structure is extremely competitive.

    ConsThe 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.

    Advice to Senior ManagementDiversity is not a "body count." Rather than count racial bodies, the agency should recalibrate its organizational structure to ensure diversity in decision making, work allocation, and employment opportunities within the agency.

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

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    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

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