CFPB

  www.consumerfinance.gov
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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
Relevance Date Rating
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
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    5 people found this helpful  

    Micro Maniac wielding controlled chaos

    Anonymous Employee (Former Employee) Washington, DC

    ProsThis is an up and coming agency

    Cons1. Most of the employees are well educated. There are a few nice people there. However, the overall culture is unfriendly.
    2. They are still finding their way. But, not accepting of advice from experienced persons.

    Advice to Senior ManagementAccept that you are not experts.

    No, I would not recommend this company to a friend

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    Working as a contractor for CFPB was a wonderful workplace experience.

    Administrative Operations Assistant (Former Employee) Washington, DC

    ProsThe employees from top management down the chain seemed excited to meet the goals of the company.

    ConsAs a contractor, I was not given the opportunity to stay on as a full-time employee.

    Advice to Senior ManagementDo more communicating with personnel.

    Yes, I would recommend this company to a friend

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    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

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    • Culture & Values
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    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

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    2 people found this helpful  

    A Noble Cause, but Often Frustrating and Stressful

    Examiner (Former Employee)

    ProsThe agency has real belief in consumer rights and protections. As a result, they have gotten the attention of much of the financial world.

    ConsA general lack of organization and structure. Many new examiners didn't get opportunities for proper training, and most of the experienced examiners' workload didn't allow for much time to train them. Lack of transparency from management.

    Advice to Senior ManagementBe more transparent, and look for ways to improve the work environment.

    Yes, I would recommend this company to a friend

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    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

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    Do work that matters.

    Anonymous Employee (Current Employee) Washington, DC

    ProsCFPB is a rarity in the public sector: a newly created agency in a critical sector of the economy, charged with protecting consumers. CFPB offers unparalleled opportunity to contribute in a meaningful way to helping others. I've never worked with smarter, more capable people, many of whom share my deep commitment to the bureau's mission.

    ConsAs a new agency, there are still a lot of processes being built. One side effect of working with brilliant people is that they can have strong opinions if they disagree, and continuing to refine role clarity and "swim lanes" can be a challenge.

    Advice to Senior ManagementKeep prioritizing the culture and steadily building processes and structures that help people to do their jobs; avoid the temptation to become a traditional bureaucracy.

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

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    Wouldn't Imagine Working for Any Other Federal Agency

    Anonymous Employee (Current Employee) Washington, DC

    ProsSome of the best and brightest people I've ever had the chance to work with. The people here are top notch, truly collaborative, and amazingly passionate about the impact they're having on the lives of everyday Americans. Coming from the private sector into public service, the CFPB created an environment that was full of open arms. Someone is always willing to help, and there's an awesome appreciation for new and diverse perspectives. I've grown so much professionally in just a short period of time.

    ConsIt's the federal government, so it can be a bit wonky, lot's of new rules to learn. No frills on the office space (good for tax payers!), but totally worth it.

    Advice to Senior ManagementKeep doing what you're doing. Focus on the long game, and don't allow the winds of politics distract you from the prize!

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

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    Overall Good Experience

    Anonymous Employee (Former Employee)

    ProsGood Mission, Smart People, Data-Driven

    ConsStill lacks the strong organization necessary to succeed

    Yes, I would recommend this company to a friend

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    2 people found this helpful  

    Great Place to Work

    Policy Assistant (Summer Intern) (Former Employee) Washington, DC

    ProsCoworkers are bright and motivated. Bureau has a start-up feel. Open management structure. Doesn't feel overly bureaucratic. Management will listen if you have suggestions on how to do something in a different/better way than it is currently being done. Pay is competitive with private sector.

    ConsThere is not enough staff for all of the work that there is to be done, so it can feel overwhelming at times.

    Advice to Senior ManagementKeep doing what you're doing.

    Yes, I would recommend this company to a friend

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