The U.S. Consumer Financial Protection Bureau is refusing to defend Biden administration-era rules in court after its director was fired by President Donald Trump.

The Consumer Financial Protection Bureau is halting its operations amid Scott Bessent's takeover, according to reports.

The Consumer Financial Protection Bureau was told to cease operations on Monday shortly after President Donald Trump appointed Treasury Director Scott Bessent to serve as the watchdog agency’s acting director—appeasing Republicans, and tech executives, who have criticized regulations at the agency implemented under the Biden administration.