The Bureau of Consumer Financial Protection (BCFP, formerly known as CFPB) is planning to move its southeast regional team out of the bureau’s Washington, D.C., headquarters and to Atlanta, Ga., in late 2019, the agency announced Friday.
“The move will align the Bureau with its regulatory partners that already have a regional presence in Atlanta, including the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency,” the agency said.
The bureau already has regional offices in New York, Chicago, and San Francisco. It says these offices are used mostly by supervision staff, but they also house enforcement attorneys and other bureau personnel. The southeast regional team has been based temporarily in the Washington, D.C., headquarters since the bureau’s inception, it notes.
“The city selection process led to Atlanta as the city that best enables the Bureau to fulfill its statutory mission and enhance its collaboration with its regulatory partners, while being as efficient as possible,” the bureau stated. “This process took into account factors including the average rental cost in the region, proximity to institutions examined by the Bureau, and ease of travel for examiners.”