Consumer Financial Protection Bureau - nightmare scenario for employees | Glassdoor
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There are newer employer reviews for Consumer Financial Protection Bureau

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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.

Other Employee Reviews for Consumer Financial Protection Bureau

  1. Helpful (6)

    "A Noble Cause, but Often Frustrating and Stressful"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Examiner
    Former Employee - Examiner
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

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

    Cons

    A 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 Management

    Be more transparent, and look for ways to improve the work environment.


  2. "Innovative Federal Agency With An Important Mission"

    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
    Positive Outlook
    Approves of CEO

    Pros

    A 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.

    Cons

    Coming 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.


There are newer employer reviews for Consumer Financial Protection Bureau
There are newer employer reviews for Consumer Financial Protection Bureau

See Most Recent

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