American Banker obtains confidential data showing racial disparities in CFPB employee evaluations

Recently leaked internal staff evaluations show racial disparities in the Consumer Financial Protection Bureau's (CFPB) workplace, according to "confidential agency data" obtained by American Banker. The data relates to the bureau's 2013 employee performance evaluation and ratings system, which shows that Caucasians "were twice as receive the agency's top grade than were African American or Hispanic employees." These performance reviews were "used to grant raises and issue bonuses." The newspaper reports that the acquired data indicates that "racial disparities can be just as easily identified within the CFPB's ranks as among the lenders the bureau regulates." Some lenders and critics of the agency say the data reveals hypocrisy considering the bureau's use of a "controversial legal theory known as disparate impact – the assertion that different results for different racial groups are themselves a type of wrongful bias, even if they are unintentional," the article said. For more, read the full story.

Consumer Financial Protection Bureau, Federal News, Federal Regulatory