Consumer Financial Protection Bureau Reviews | Glassdoor

Consumer Financial Protection Bureau Reviews

Updated June 22, 2017
70 reviews

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3.7
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Consumer Financial Protection Bureau Director Richard Cordray
Richard Cordray
43 Ratings

70 Employee Reviews

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

  • 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)

More Pros and Cons

  1. Helpful (16)

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

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Legal Role in Washington, DC
    Current Employee - Legal Role in Washington, DC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

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

    Cons

    One 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 Management

    Please treat your employees better.


  2. Helpful (24)

    "Minorities unfortunately are not treated well. Very disappointing."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Legal in Washington, DC
    Former Employee - Legal in Washington, DC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Admirable mission and compensation structure is extremely competitive.

    Cons

    The 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 Management

    Diversity 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.

  3. Helpful (15)

    "nightmare scenario for employees"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Consumer Financial Protection Bureau 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.


  4. Helpful (9)

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

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    No opinion of CEO

    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 Management

    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.


  5. Helpful (9)

    "Very prejudiced..unfair and deceitful managers/management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Consumer Financial Protection Bureau 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 Management

    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...


  6. Helpful (12)

    "Nepotism, cronyism, discriminatory"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Consumer Financial Protection Bureau 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 Management

    Learn how to treat people with respect


  7. Helpful (18)

    "Nepotism, Cronyism, Discrimination, Hostile work environment"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Lawyer in Washington, DC
    Current Employee - Lawyer in Washington, DC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Consumer Financial Protection Bureau 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 Management

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

  8. Helpful (16)

    "Great Mission Poor Execution"

    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
    Doesn't Recommend
    No opinion of CEO

    I worked at Consumer Financial Protection Bureau 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 Management

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


  9. Helpful (7)

    "Nepotism at it's finest"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Consumer Financial Protection Bureau 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 Management

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


  10. Helpful (20)

    "HR and Examination Policy are weak and require improvement"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in New York, NY
    Current Employee - Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Consumer Financial Protection Bureau 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 Management

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


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