CFPB looking to add 75 employees to enforcement department
The Consumer Financial Protection Bureau is calling for reinforcements.
CFPB enforcement director Eric Halperin revealed in a public appearance last week that the bureau is looking to add about 75 new full-time employees to the office of enforcement. Halperin told attendees at the National Consumer Law Center’s Consumer Rights Litigation Conference in Chicago that the bureau “will be looking for talented people committed to the mission of the CFPB.
“We hope that you all will help spread the word that we are hiring,” Halperin said.
Along with adding more personnel, Halperin emphasized that the CFPB also wants to continue to work closely with its state and federal government partners, including the prudential regulators, “to ensure maximum protection, and redress, for consumers.”
Before sharing that strategy for bolstering its resources, Halperin recapped several of the enforcement actions the CFPB has taken in recent months, including ones involving Wells Fargo, Regions Bank, TransUnion, Bank of America and other firms.
“While I am proud of what we’ve accomplished, I want to emphasize: we have much more to do,” Halperin said. “Consumer debt burdens are historically high, and they are rising. High interest rates strain the balance sheets of families across the country, making it harder to buy a car or a home or take out a line of credit. And at the same time, the consumer economy continues to get more complex and less transparent every day.
“At the CFPB, we are committed to ensuring that crucial consumer protection standards keep up with the ever-more complicated technology and automation that we see creeping into the world of consumer finance. We have been very clear: companies and individuals must comply with the law even when they are new to the market or take advantage of technological innovation,” he continued.