CFPB Imposing Union Contract Changes as Funding Woes Mount

The Consumer Financial Protection Bureau plans to make unilateral changes to provisions in its collective bargaining agreement with employees that the agency says “illegally infringe” on management rights.

The changes will affect some employee pay and benefits that were subject to a hard-fought negotiation during the Biden administration as well as other provisions, according to a letter from acting CFPB Director Russell Vought to National Treasury Employees Union President Doreen Greenwald dated Tuesday.

“CFPB intends to exercise its management rights and make new determinations regarding the operation of its workforce,” the letter, first obtained by Bloomberg Law, said. “CFPB has ...