Consumer Financial Protection Bureau Reviews | Glassdoor

Consumer Financial Protection Bureau Reviews

Updated May 13, 2017
11 reviews

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3.0
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Consumer Financial Protection Bureau Director Richard Cordray
Richard Cordray
5 Ratings

11 Employee Reviews

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Pros
Cons
  • I would say just like any government agency you have to deal with a lot of red tape to get things accomplished (in 5 reviews)

  • Growing pains from being such a new agency (in 5 reviews)

More Pros and Cons

  1. Helpful (1)

    "Great mission; Federal Government Management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Commissioned Bank Examiner in Boston, MA
    Current Employee - Commissioned Bank Examiner in Boston, MA
    Approves of CEO

    I have been working at Consumer Financial Protection Bureau full-time (More than 3 years)

    Pros

    The mission is great, and the people are dedicated. There is extensive travel within the regionally assigned area, which can be nice if you like seeing new places.

    Cons

    Management is the typical, stereotyped federal bureaucracy. The operational and training required for the job are tedious, and at times, ridiculous.


  2. Helpful (3)

    "Choose the right boss to work for. Well funded but resources are hardly used prudently...."

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

    I worked at Consumer Financial Protection Bureau (More than a year)

    Pros

    * Sharper staff than the average government agency. The CFPB was able to recruit some great people, particularly before the new agency hiring authorities expired. If you get a chance to work an amazing boss, go for it!

    * Funded directly by the Federal Reserve; Not being subject to the appropriations process like other agencies allows the CFPB an exceptional level of independence. The agency isn't afraid to use its legal authority to protect the consumer and can usually put the people/resources in place to get the job done. More often than not, the agency doesn't hold back on doing what they're supposed to do out of fear of congress cutting their budget.

    * Above-average salary/benefits for the federal government.

    Cons

    * Lack of accountability. Because its so difficult to remove underperforming employees/managers (unless they're engaged in serious misconduct), upper level managers tend to look the other way.

    * Low morale in some division offices. Really think hard about working in the Office of Consumer Response or in a role that has to interact with it. Almost all of the talented managers there left.

    * Some low-level sexism and bullying. Enabled by weak management. Just go to HR if your manager is too weak to deal with it.

    * The union (NTEU) local chapter is unbelievably entitled/incompetent/counterproductive. Don't ever pay your union dues, they only protect the laziest employees and have trouble negotiating the most basic aspects of Collective Bargaining Agreement.

    Bottom line:
    When interviewing, use your common sense to determine if your prospective boss knows what they're talking about. If they don't, find another place to work in the CFPB, there are definitely great managers/opportunities. Not a place many would want to spend their entire career but there's certainly room to grow/learn.

    Advice to Management

    There is a lack of accountability. Sure, its a government agency with a problematic union, but at the end of the day certain managers need to take responsibility for motivating employees. There is one division director in particular who talks A LOT about his expertise and contributions to workplace culture but runs away from conflicts.


  3. "Paralegal Specialist"

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

    I worked at Consumer Financial Protection Bureau (Less than a year)

    Pros

    Interesting work, helping people and rooting out the bad guys who take financial advantage of those who don't have access to traditional forms of credit.

    Cons

    Often there's a slow pace.


  4. Helpful (11)

    "Regulator ran by those who have never worked in a bank and lack leadership skills"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Consumer Response in Washington, DC
    Current Employee - Consumer Response in Washington, DC
    Doesn't Recommend
    Neutral Outlook

    I have been working at Consumer Financial Protection Bureau full-time (More than 3 years)

    Pros

    Most employees believe in the mission of protecting and helping consumers
    Opportunity to make a real positive impact for consumers needing help
    The benefits are outstanding: telework; every other Friday or Monday off; health/dental/eye insurance rates very low or paid for completely; 1-for-1 match on retirement up to 7%; good pay scale

    Cons

    Anyone who isn't a lawyer is often treated as a second-class employee
    Management is nearly incompetent and gets paid very well for little work/results
    Promotions and details tend to go towards a small group of favorite employees
    Employee development outside of management is infrequent at best, non-existent at worst
    Despite yearly surveys telling management that communication from the top-down is nearly non-existent the same communication barriers continue to exist
    Employees who speak out or join the union are shunned and sometimes face retaliation

    Advice to Management

    Executive management should take charge and completely reshuffle senior and mid-level management
    Too many meetings and engagement groups with little or no result; scrap all meetings and groups and start over with just basic meetings
    Employee morale suffers when hirings/promtions continue to bring in external employees instead of promoting from within


  5. Helpful (2)

    "Student Intern Found Work Lacking"

    Star Star Star Star Star
    • Culture & Values
    Former Employee - Student Intern in Washington, DC
    Former Employee - Student Intern in Washington, DC
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Coworkers were friendly, never felt excluded from events etc. CFPB probably does a better job than other govt agencies in creating a stimulating environment but that isn't saying much

    Cons

    Student interns are not paid and must sign a form guaranteeing this. As is likely the case with most government agencies, there is not always exciting work or projects to be doing. Most of the work I did was mundane. That's to be expected as an intern but it would have been nice to at least have picked up some useful skills (excel, financial analyses, etc.)

    Advice to Management

    Find engaging work for interns or you won't attract the top students


  6. Helpful (3)

    "Great mission, growing pains"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - CFPB Enforcement Attorney in Washington, DC
    Current Employee - CFPB Enforcement Attorney in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Consumer Financial Protection Bureau full-time (More than a year)

    Pros

    Great mission and ability to be creative.

    Cons

    Micro-management, many decisions made based on political concerns and not always on what is best for consumers, slow internal processes.


  7. "Opportunities to do good for small and big consumer finance products"

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

    I have been working at Consumer Financial Protection Bureau full-time (More than a year)

    Pros

    Young, fresh and new organization.

    Cons

    Faster than others, but still slow government pace

    Advice to Management

    Let go of the familiar to embrace the new


  8. "Consumer Reponse"

    Star Star Star Star Star
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Consumer Financial Protection Bureau full-time

    Pros

    Reasonable hours and flexible work schedules.

    Cons

    Management can be incompetent and unsupportive of career growth of staff members.


  9. Helpful (1)

    "Great Mission, Okay Place to Work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Approves of CEO

    I have been working at Consumer Financial Protection Bureau full-time

    Pros

    This agency has a wonderful mission and does great work toward achieving that mission. There are many smart and talented people working here.

    Cons

    The agency has many of the downsides that are stereotypical of federal government.


  10. Helpful (4)

    "Great Experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager
    Current Employee - Manager
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Consumer Financial Protection Bureau full-time (More than 3 years)

    Pros

    The agency allows for you to get as involved as you would like to in your department. If you are interested in a particular group outside of your own, management is willing to create opportunities where you can work in that area without transferring fully.

    Cons

    Management politics, inconsistent messages from management and a lot of incompetent managers.

    Advice to Management

    Continue to create opportunities for staff to further their careers within the agency. Limit office politics by working to create a professional and civil work environment.


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