President Trump and other critics of the agency say it needs to be shut down. Supporters of the agency point to its record of protecting consumers.

Time will tell what Trump has in store for the CFPB. For now, consumers can still access the bureau’s many educational resources and file a complaint if they’d like, but given the acting director’s recent order, don’t expect a response any time soon.

It's the main U.S. agency tasked with overseeing the financial products and services used by everyday Americans. The CFPB's new head has closed its offices and told staff to stay home.

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, the Associated Press reported.

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.