On March 7, 2023, the National Labor Relations Board (NLRB) and the Consumer Financial Protection Bureau (CFPB) signed a Memorandum of Understanding (“CFPB MOU”) that created a formal partnership between the two agencies. Per the CFPB MOU, the basis for this collaboration is a shared interest in “protecting American consumers and workers” to “better root out financial practices that harm workers,” to “enhance the enforcement of federal laws,” and to coordinate interagency goals, outreach and training. According to the NLRB, the targeted practices are “employer surveillance, monitoring, data collection, and employer-driven debt,” which can include employee-purchased equipment, supplies or required training. The CFPB’s focus is on practices in the “gig economy” and although “employer surveillance and employer-driven debt” are areas of “immediate concern,” the CFPB’s specific concern is directed to companies that may violate the Fair Credit Reporting Act by selling worker surveillance data and that as to employer-driven debt, the required purchases may not be competitively priced and/or may subject the employee to debt collection efforts.
