CFPB Recruiting Undercover Agents To Spy On Financial Institutions

Posted by Orb Staff on August 13, 2012 No Comments
Categories : Residential Mortgage

12178_investigation CFPB Recruiting Undercover Agents To Spy On Financial Institutions Attention, would-be detectives: The Consumer Financial Protection Bureau (CFPB) is actively seeking investigators for undercover work designed to find abuses within the financial services industry.

According to a Washington Times report, the CFPB is running recruitment advertisements seeking new employees to go undercover at financial institutions. One recruitment advertisement described the job duties as being able to ‘establish and conduct surveillance activity to develop both intelligence and evidence to further investigations.’

The CFPB says that its new undercover investigators would earn between $98,000 and $149,000 annually. The Washington Times also reports that the CFPB may be hiring private investigation agencies to provide further assistance in its undercover assignments.

A CFPB spokesperson declined to discuss the depth of the agency's undercover activities. However, the spokesperson added this type of work would not violate the civil liberties of the financial services institutions being investigated, and that it was ‘typical among agencies charged with civil law enforcement.’

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