Widespread Discrimination Forces Agency to Create New Pass-Fail Performance Rating System

May 28

From: Government Executive

By Eric Katz

The Consumer Financial Protection Bureau will launch a new, simplified employee evaluation system after internal audits corroborated allegations that the old system was subject to systemic biases and prejudices.

CFPB will move to a two-tier performance management structure, essentially creating “pass-fail” grading. An internal report earlier this month revealed “broad-based, statistically significant disparities for employees based on a wide range of characteristics,” including race, ethnicity, age, union membership, location, pay rate and tenure.

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Transatlantic Economy 2014: Annual Survey of Jobs, Trade and Investment between the U.S. and Europe

May 22

Editor’s Note: The Center for Transatlantic Relations (Johns Hopkins/Paul H. Nitze School of Advanced International Studies) has release a detailed analysis of the ever-deeper economic ties between the US and the Europe.  The complete study includes the Executive Summary of The Transatlantic Economy 2014, Transatlantic Economy 2014, Vol. 1 – Headline Trends and Transatlantic Economy 2014, Vol. 2 – State-by-State and Country-by-Country.

From: The Transatlantic Economy 2014, Volume 1

The Importance of TTIP

» 2014 is a pivotal year for the Transatlantic Trade and Investment Partnership (TTIP).

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Cost of CFPB July Training Session Estimated at $400,000

May 15
From: Washington Free Beacon

CFPB booked 2,000 nights at D.C. hotels for attendees 

BY:

The Consumer Financial Protection Bureau (CFPB) is planning an “all hands” meeting for its more than 1,300 employees at a hotel in Washington, D.C., this summer, with cost estimates nearing $400,000.

The agency will book up to 475 hotel rooms each night for a five-day conference in July. The CFPB issued a solicitation on Friday, which included an attachment with the agency’s request for hotel accommodations.

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CFPB Accounting Significantly Deficient: GAO Report

May 07

From: Credit Union Times

By David Morrison

A May 2 report from the Government Accountability Office took the CFPB to task for the way it accounted for internal financial controls and reporting.

The report followed up and detailed a Dec. 13, 2013 GAO audit that revealed significant deficiencies.

Specifically, the report found CFPB failed to develop internal controls over its yearend accrual process to ensure accounts payable amounts recorded were complete and accurate. The CFPB also failed to develop and implement controls to ensure accurate and complete recording of its property and equipment transactions.

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