CFPB to Open Southeast Regional Office in Atlanta
On September 21, 2018, the CFPB announced that it will be relocating its southeast regional office from Washington, D.C. to Atlanta, Georgia in late 2019. In addition to the CFPB’s headquarters, the Bureau currently leases office space in downtown Washington, D.C. that will be surrendered after the southeast regional team is moved to Atlanta. The plan for a southeast regional office has been in the works since 2016. Per the CFPB’s February 2016 Strategic Plan, Budget, and Performance Plan and Report, the CFPB planned to coordinate with the General Services Administration “regarding its space needs for personnel at the headquarters location and in the Southeast region.”
The city selection 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.” The CFPB stated that Atlanta was selected 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 new office will be housed in a building owned by the General Services Administration. In addition to reducing costs, the move will align the CFPB with other regulatory agencies with offices in Atlanta such as the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency. The CFPB also has regional offices in New York, Chicago, and San Francisco.