CB with the Fed

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CB with the Fed

Postby Anonymous User » Fri Sep 28, 2012 12:18 pm

Has anyone had a CB with the Federal Reserve Board of Governors? What was it like?

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Re: CB with the Fed

Postby Anonymous User » Sat Sep 29, 2012 10:56 am

3L or 2L? I had one a bit back. Pretty similar to a large firm. String of short interviews with attorneys at various experience levels. Be ready to explain why youre interested.

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Re: CB with the Fed

Postby Anonymous User » Sat Sep 29, 2012 11:05 am

Had a CB for a 2L summer earlier this month. Had six 30-min interviews w/more senior staff followed by a lunch (optional) with junior staff. Agreed it was similar to Big Law interviews.

Two main parts of the legal division: Banking & Policy and Litigation, Enforcement & System Matters (or something like that). Interviewers will definitely want to know "why the Fed" as opposed to private practice and, more specifically, as opposed to other government agencies.

FYI, in case they haven't mentioned it already, this is the first year the Fed will not allow splitting for the summer. It's Fed or no Fed.

Definitely do the lunch. The Fed's cafeteria is pretty solid and has a great view. They try to set you up with juniors who went through the summer program, all of whom I met were really open to answering any questions. Overall, people were very nice and knowledgeable!

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Re: CB with the Fed

Postby Anonymous User » Sat Sep 29, 2012 5:56 pm

OP here: Thanks! That's helpful. I really enjoyed my screening interview, because it was 75% substantive legal questions about various resume items. I guess I should expect the CB interviewers to more "conversational" and firm-like?

Surprisingly (to me), the interviewer didn't seem to be particularly concerned with my open lack of knowledge of banking policy/regulation. She stressed the comprehensive training they provide. Do you think the CB interviewers will have a similar attitude about my lack of finance experience/expertise?

I actually initially expressed interest in the consumer division, which is being moved to the CPFB. After my interviewer told me about that move, we mostly talked about general-counsel-type litigation (handling EEOC claims, etc.) and enforcement. I guess all of that falls under Litigation, Enforcement & System Matters umbrella. I think I can articulate a good answer to the "Why the Fed?" question (it seemed like an incredible job, and I really liked my screening interviewer), but connecting it to me pre-LS WE will be a challenge.

Did either of the answerers get offers? Did you accept? I really appreciate your help. Oh, and I'm a 2L, if that helps.

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Re: CB with the Fed

Postby Anonymous User » Sat Sep 29, 2012 11:26 pm

Anonymous User wrote:OP here: Thanks! That's helpful. I really enjoyed my screening interview, because it was 75% substantive legal questions about various resume items. I guess I should expect the CB interviewers to more "conversational" and firm-like?

Surprisingly (to me), the interviewer didn't seem to be particularly concerned with my open lack of knowledge of banking policy/regulation. She stressed the comprehensive training they provide. Do you think the CB interviewers will have a similar attitude about my lack of finance experience/expertise?

I actually initially expressed interest in the consumer division, which is being moved to the CPFB. After my interviewer told me about that move, we mostly talked about general-counsel-type litigation (handling EEOC claims, etc.) and enforcement. I guess all of that falls under Litigation, Enforcement & System Matters umbrella. I think I can articulate a good answer to the "Why the Fed?" question (it seemed like an incredible job, and I really liked my screening interviewer), but connecting it to me pre-LS WE will be a challenge.

Did either of the answerers get offers? Did you accept? I really appreciate your help. Oh, and I'm a 2L, if that helps.


3rd Poster: Glad to help! My CB interviews were a bit more conversational but definitely still a bit on substance. That said, I have WE and focused interested in banking. I think that's probably not the norm, so I wouldn't worry at all about not having that experience.

The CFPB does hiring separately, so you may want to keep that in mind. Yes, what your'e discussed sounds much more Litigation than Banking; the latter deals more with regulatory compliance (e.g., reviewing banking applications).

Didn't get an offer but pulled out shortly after the CB b/c I decided to take an offer elsewhere. Seems the Fed is on a slightly different timeline. At some schools, the Fed screeners mixed in with Big Law. At other schools, they are mixed in with other gov't agencies & public service groups. Good luck!




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