Summary

Directs the Director of the Bureau of Consumer Financial Protection to set and adjust the basic pay of Bureau employees according to the General Schedule pay rates in 5 U.S.C. 5332. The change takes effect 90 days after the law is enacted. This replaces the Bureau's previous pay-setting approach by tying basic pay to the federal General Schedule, affecting how employee salaries are determined and adjusted going forward.

Key Points

• Bureau basic pay must be set and adjusted according to the federal General Schedule (5 U.S.C. 5332).
• Statutory amendment applies to 12 U.S.C. 5493(a)(2) and changes Bureau pay-setting rules.
• The change takes effect 90 days after the law is enacted.
• No new funding or appropriations are authorized by this change; it alters pay methodology only.
• Implementation responsibility lies with the Director of the Bureau of Consumer Financial Protection.
• Could affect recruitment, retention, and pay comparability between the Bureau and other federal agencies.
• Does not modify job classifications, responsibilities, or benefit structures—only basic pay alignment.
• Applies only to employees of the Bureau; private-sector pay and consumer protections are unchanged.

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