Download Consumer Finance Protection Case Study
The Consumer Financial Protection Bureau (CFPB or Bureau) was established by the Dodd-Frank Wall Street Reform Act and Consumer Protection Act of 2010. CFPB was faced with the challenge of standingup a new operating organization in a tight timeline amidst intense scrutiny from Congress and oversight bodies, the media, financial institutions, and the public. CFPB needed a partner who was experienced in standing-up new federal agencies amidst such pressures and turned to Guidehouse, formerly known as PwC Public Sector LLP. For over seven years, Guidehouse has served as a trusted advisor in strategy, portfolio management, and project management and has helped the Bureau mature from its initial startup days to a high-performing agency that balances control and process with innovation and industryleading technology, research, and enforcement capabilities.
Guidehouse applied lessons learned from our support of the stand-up of the U.S. Department of the Treasury’s Troubled Asset Relief Program (TARP) and Small Business Lending Fund (SBLF) to advise CFPB on how to turn a few pages of legislation into an initial operating capability with the governance, systems, and constructs to facilitate on-going maturation. Leading practices for organization design, governance design, risk management (e.g., COSO), portfolio and project management were all combined into an integrated approach to establishing and maturing the Bureau. Guidehouse continues to draw from leading practices and lessons learned from our work supporting dozens of other federal agencies when advising the CFPB. We apply a hands-on, co-collaboration approach to developing strategies and solutions with our CFPB clients and which reflect CFPB’s values, including innovation and customer service.
With Guidehouse at its side, CFPB achieved all of its initial launch milestones and has continued to grow and mature as a Bureau. Guidehouse has helped CFPB to launch 20+ critical projects and solutions, including its award-winning website and eRegulations tool, the Consumer Complaint Database (CCDB), data infrastructure and tools to empower a data-driven agency, and most recently, a cutting-edge, userfriendly application and supporting platform to facilitate CFPB’s Home Mortgage Disclosure Act (HMDA) Operations program. We also helped to establish and mature program management offices for both the Office of the Chief Information Officer and the Office of Consumer Response, which embrace both waterfall and agile development lifecycles.