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The CFPB recently announced that it has issued a Compliance Assistance Statement of Terms Template (“CAST Template”) through its Compliance Assistance Sandbox Policy (“CAS Policy”) after receiving an application from Build Commonwealth, Inc. (“Commonwealth”).

The Commonwealth CAST Template can be used by employers as the basis for an application to the CFPB to obtain approval for an automatic savings program to assist employees in building emergency savings (“Autosave Program”). … Continue Reading

Businesses such as banks and other financial institutions that are exempt from state-wide or local orders requiring business closures because they are considered “essential” or “life-sustaining” may want to consider providing letters to their employees regarding the business’s exempt status.

Employees of businesses that remain open who need to travel to and from their workplaces and/or other locations could encounter questions from individuals such as law enforcement officers or security guards regarding the employee’s activities. … Continue Reading

The CFPB released two items at year-end:  the results of its 2016 annual employee survey and its updated Diversity and Inclusion Strategic Plan (Strategic Plan) for 2016-2020.

Survey.  Of the 1,567 CFPB employees surveyed, 1,372 (almost 87.6%) responded to the 2016 survey.  We were pleased to see that the survey results appear to show that the CFPB has made progress in improving  its work environment. … Continue Reading

A report last month issued by the Government Accountability Office (GAO)  found that a survey of nonexecutive CFPB employees revealed “heightened concerns related to fair treatment, trust that employees can raise concerns related to fair treatment, trust that employees can raise concerns without fear of reprisal, confidence in complaint processes, and other matters.” … Continue Reading

The CFPB has issued its No FEAR Act Annual Report for FY 2014.  The “No FEAR Act” is the Notification and Federal Employee Antidiscrimination and Retaliation Act of 2002.  It requires federal agencies to submit an annual report to the Director of the Office of Personnel Management that includes data about federal cases filed against the agency arising under No FEAR Act laws and disciplinary actions related to discrimination, retaliation or harassment. … Continue Reading