Consumer Financial Protection Bureau (CFPB) employees receive some of the highest salaries of all federal workers. U.S. Senator Mike Enzi, R-Wyo., introduced an amendment that would require the CFPB to set pay rates according to the federal government’s General Schedule (GS) scale.
Speaking on the Senate floor, Enzi highlighted how more than 170 CFPB employees were paid between $180,000 and $259,000 last year. In comparison, the highest-paid appointees in the White House were paid $179,000 and Supreme Court justices were paid $251,000. Enzi said more than 100 CFPB employees made more than our state governors and almost 50 made more than the vice president of the United States.
While most federal employees’ salaries are determined using the GS scale, the CFPB director has sole discretion to determine salaries.
“Congress needs to bring accountability to the CFPB, and we should start with the bureau’s lavish spending on employee salaries,” Enzi said. “This common-sense amendment would ensure the bureau is keeping employees’ salaries in line with the regular government pay scale, promoting transparency and equity in pay across the federal government.”
Enzi offered this amendment to the Economic Growth, Regulatory Relief, and Consumer Protection Act introduced by U.S. Senator Mike Crapo, R-Iowa., which would provide regulatory relief for small community banks and credit unions from the burden of the Dodd-Frank Act.
Click here to see a transcript of Enzi’s speech.