A former top official at the Consumer Financial Protection Bureau (CFPB) has raised concerns about the potential destruction of critical records that could have serious repercussions for the consumer watchdog and the financial system. Erie Meyer, who recently served as the CFPB's chief technologist, has urged a federal court to intervene to prevent the deletion of sensitive data accumulated by the bureau over the past twelve years.
The data held by the CFPB includes records of examinations, enforcement actions, consumer complaints, personal consumer information, and other essential data. Meyer's sworn statement to the court comes amidst a series of legal challenges to the Trump administration's plans to reduce federal workforce and dismantle certain agencies, including the CFPB, an independent agency established to safeguard consumers from potentially predatory practices by banks and lenders following the financial crisis.
