The financial watchdog agency was formed after the 2008 crisis. The Trump administration has told staffers not to take any actions — or even come into the office.

Key Takeaways The acting director of the Consumer Financial Protection Bureau asked employees to stop much of their work, closed the headquarters, and said he would refuse the agency's funding.Analysts said that the White House cannot close the agency without Congress' consent but could hold the CFPB back from doing much of its work.

A union representing thousands of federal employees filed two lawsuits against Office of Management and Budget Director Russell Vought for his shuttering of the Consumer Financial Protection Bureau. Vought is the acting director of the CFPB.

President Trump’s newly appointed Consumer Financial Protection Bureau chief has ordered the closure of the agency’s headquarters and directed staff to halt all supervisory activities. Chief Russell Vought instructed CFPB employees to cease all supervision and examination activity.

President Donald Trump’s administration has shuttered the headquarters of the Consumer Financial Protection Bureau (CFPB) and ordered the watchdog agency to stop nearly all of its work. On Saturday, CFPB chief Russell Vought sent the directive to the agency’s staff,

President Donald Trump’s budget chief has sent an email to consumer protection agency employees telling them to stop working. The message arrived Monday as the Consumer Financial Protection Bureau's Washington headquarters was being shut down for the week.

A White House official said Saturday he would decline more funding for the Consumer Finance Protection Bureau, signaling a possible end to the agency.