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Committee on Oversight and ReformCommittee on Financial ServicesIntroducedJune 14th, 2013
- house Committees
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CFPB Pay Fairness Act of 2013
To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to set the rate of pay for employees of the Bureau of Consumer Financial Protection in accordance with the General Schedule.
CFPB Pay Fairness Act of 2013 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act, with respect to compensation of employees of the Consumer Financial Protection Bureau (CFPB), to require the CFPB Director to set and adjust the rates of basic pay for CFPB employees in accordance with the General Schedule for federal employees. (Currently, the Director is merely authorized to do so.) Repeals the requirement that the Director at all times provide compensation (including benefits) to each class of employees at least comparable to the compensation and benefits then being provided by the Board of Governors of the Federal Reserve System for the corresponding class of Federal Reserve employees. Repeals also the requirement that all such employees be compensated (including benefits) on terms and conditions consistent with specified terms and conditions of the Federal Reserve Act.