Bankers beware, that new customer might be a CFPB operative

On July 23, the Consumer Financial Protection Bureau began recruiting investigators.

On July 23, the Consumer Financial Protection Bureau began recruiting investigators.

The latest addition to the Bureau’s consumer regulation arsenal, the agents will “plan, organize, and conduct a wide range of investigations related to alleged or suspected offenses in violation of consumer protection laws,” according to the CFPB job description.

Investigations could consist of “surveillance activity” conducted to “identify subjects, their activities, and their associates, corroborate source information, and collect evidence,” according to the job description.

Earning $98,000 to $149,000 per year, investigator activities may involve “delicate matters” for which there are few established criteria, the recruitment ad said.

“The investigation activities described in the posting are intended to inform our enforcement office about what consumers may experience with different financial products or services,” Bureau spokeswoman Moira Vahey told The Washington Times.

“Investigative work conducted by our staff will be covered by CFPB policies to ensure all practices comply with applicable laws and protect individuals’ privacy rights. We anticipate that the type of information gathered generally will be information available to the general public. Investigation activities like these are typical among agencies charged with civil law enforcement,” she said.

Fredrikson & Byron Law