News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Employment Policies

Orrick, Herrington & Sutcliffe LLP

OIG confirms it will investigate CFPB following senators’ requests

On June 6, the OIG for the Fed and the CFPB responded to requests from Sens. Andy Kim (D-NJ) and Elizabeth Warren (D-MA) for a review of recent workforce reductions and contract cancellations at the CFPB. The OIG confirmed it...more

Sheppard Mullin Richter & Hampton LLP

D.C. Circuit Reinstates Injunction Blocking CFPB’s Mass Layoffs 

On April 28, the U.S. Court of Appeals for the D.C. Circuit reinstated a district court order blocking the CFPB from conducting a large-scale reduction in force. The decision reversed an earlier partial stay that had...more

Troutman Pepper Locke

Court Orders CFPB to Reinstate Employees and Resume Operations; CFPB Promptly Files Appeal

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On March 28, the Consumer Financial Protection Bureau (CFPB or Bureau) was ordered by the U.S. District Court for the District of Columbia to reinstate its employees and resume its operations. This decision comes after the...more

Orrick, Herrington & Sutcliffe LLP

Rep. Waters sends letter to CFPB’s Vought regarding its DEI order

On March 19, Rep. Maxine Waters (D-CA) penned a letter to CFPB Acting Director Russell Vought expressing concerns regarding the Acting Director’s recent directive that allegedly advises all CFPB personnel to cease all work...more

Orrick, Herrington & Sutcliffe LLP

CFPB, FDIC and OCC respond to court ruling by reinstating probationary employees

On March 17, the CFPB, the FDIC, the OCC and other government agencies reportedly reinstated probationary employees that had been terminated as part of the Trump administration’s efforts to reduce the federal workforce....more

Orrick, Herrington & Sutcliffe LLP

Trump administration reportedly cancels DEI initiatives at CFPB

Recently, it was reported the Trump administration decided to terminate all diversity, equity, inclusion and accessibility (DEIA) initiatives at the CFPB. This decision was reported through a memo sent to staff by CFPB Acting...more

Orrick, Herrington & Sutcliffe LLP

Office of Personnel Management reportedly reinstates CFPB employees with military status

On February 27, the Office of Personnel Management (OPM) reportedly ordered the CFPB to reinstate employees who are veterans, disabled veterans, and military spouses who were previously terminated. The CFPB reinstated these...more

Orrick, Herrington & Sutcliffe LLP

CFPB reportedly terminates 70 employees, including enforcement attorneys

On February 11, the CFPB reportedly terminated about 70 probationary employees, including several enforcement division attorneys, informing the employees that their skills did not align with the CFPB’s current needs. The...more

Mitratech Holdings, Inc

Common Background Screening Mistakes

Did you know that 94% of companies perform background checks? Of those, almost all are criminal record checks, fingerprinting, and verifications. But is that the right approach? And with so many people doing them, it should...more

Fisher Phillips

Comprehensive Review of AI Workplace Law and Litigation as We Enter 2025

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It’s been a whirlwind few years when it comes to government and court activity related to the use of artificial intelligence in the workplace – but we’ve boiled it down to one place. This Insight reviews all of the laws,...more

ArentFox Schiff

The Federal Trade Commission and Artificial Intelligence

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Artificial intelligence (AI) burst into the public consciousness less than one year ago, with OpenAI’s highly successful public release of ChatGPT. Since then, AI-enabled products and services have proliferated throughout the...more

Troutman Pepper Locke

How to Combat Corporate Theft: Office Space – Crossover Episode With the Hiring to Firing Podcast - The Consumer Finance Podcast

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Corporate theft can happen in any workplace, but in the world of financial services, the theft can also create regulatory and litigation exposure for financial institutions. What type of employee is most likely to steal from...more

Goodwin

Financial Institution Diversity Voluntary Self-Assessments: Due September 30

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Financial Institution Diversity Voluntary Self-Assessments: Due September 30 - On July 13, the FDIC issued a financial institution letter announcing that FDIC-supervised financial institutions are encouraged to...more

Goodwin

CFPB Issues Interpretive Rule on FCRA Consumer Information Matching Requirements

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In This Issue. The Consumer Financial Protection Bureau (CFPB) issued an interpretive rule on Fair Credit Report Act consumer information matching requirements; the Securities and Exchange Commission (SEC) approved the Public...more

FordHarrison

New FCRA Summary of Rights for Background and Credit Checks

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On September 12, 2018, the Consumer Financial Protection Bureau (CFPB), the federal agency which oversees the federal Fair Credit Reporting Act (FCRA) issued an interim final rule updating the agency’s model FCRA notice....more

Ballard Spahr LLP

CFPB: Industry should “start now” to comply with workplace diversity and inclusion standards

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On June 26, 2014, I participated in a panel presentation at the MBA Strategic Markets and Diversity Summit, in Washington, D.C. Stuart Ishimaru, Director of the Consumer Financial Protection Bureau’s Office of Minority and...more

Ballard Spahr LLP

CFPB’s Office of Minority and Women Inclusion issues second annual report

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The CFPB’s Office of Minority and Women Inclusion (OMWI) has issued its second annual report to Congress covering the OMWI’s activities in 2013. The Dodd-Frank Act required the CFPB and various other federal agencies...more

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