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On Wednesday of last week, the House Financial Services Committee held another hearing on alleged CFPB employee discrimination. At the hearing, which was titled “Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau, Part Two,” Committee members questioned CFPB witnesses who had been subpoenaed after declining to attend the first hearing in April.… Continue Reading

According to a Politico report, the House Financial Services Committee’s Subcommittee on Oversight and Investigations voted yesterday to issue three subpoenas in connection with the Subcommittee’s investigation into alleged CFPB employee discrimination. 

The subpoenas were issued to Stacey Bach, Assistant Director of the CFPB’s Office of Equal Employment  Opportunity, Liza Strong, the CFPB’s Director of Employee Relations, and Ben Konop, Executive Vice President of the National Treasury Employee Union’s Chapter 335. … Continue Reading

At yesterday’s hearing on alleged CFPB employee discrimination conducted by the House Financial Services Committee’s Subcommittee on Oversight and Investigations, a CFPB employee is reported to have testified that the agency has “a pervasive culture of retaliation and intimidation that silences employees and chills the workforce from exposing wrongdoing.”   

Angela Martin, a CFPB enforcement attorney, claimed that she experienced gender discrimination and retaliation for filing an Equal Employment Opportunity complaint with the CFPB’s Human Capital Office. … Continue Reading

According to a Politico report, a CFPB spokesman has said that the two invited CFPB representatives will not be participating in the hearing scheduled for this Wednesday, April 2 by the House Financial Services Committee’s Subcommittee on Oversight and Investigations.

Entitled “Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau,” the hearing is expected to include testimony from a CFPB employee who alleged she experienced gender discrimination and retaliation for filing an Equal Employment Opportunity complaint with the CFPB’s Human Capital Office. … Continue Reading

The House Financial Services Committee’s Subcommittee on Oversight and Investigations has scheduled a hearing for April 2, 2014 entitled “Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau.”  The hearing follows the American Banker’s recent article revealing that CFPB staff evaluations showed a pattern of racial disparities.  

According to the Committee memorandum, Committee staff received corroborating information from a CFPB employee who alleged she experienced gender discrimination and retaliation for filing an Equal Employment Opportunity complaint with the CFPB’s Human Capital Office.… Continue Reading

As we reported, on May 28, 2013, Democratic members of the House Committee on Financial Services sent a letter to Director Cordray requesting information about the CFPB’s activities related to auto fair lending, including “the methodology the CFPB has adopted to determine whether fair lending violations exist.”

In his response dated June 20, Director Cordray states that a typical fair lending exam of an “indirect auto lender would include a review of credit denials, interest rates quoted by the lender to the dealer (called ‘buy rates’), and any discretionary mark-up of the buy rate by the dealer (the interest rate quoted by the dealer to the consumer minus the ‘buy rate’).”… Continue Reading

The CFPB doesn’t want its fair lending authority to be in doubt. A recent blog post by Patrice Ficklin, the CFPB’s Assistant Director for the Office of Fair Lending & Equal Opportunity, describes the CFPB’s authority under the ECOA and HMDA and the “many tools” Ms. Ficklin’s office can use “to protect consumers from credit discrimination and promote fair access to credit.”… Continue Reading