The agency had been one of Wall Street’s most feared regulators, with the power to issue rules on mortgages, credit cards, student loans and other areas affecting Americans’ financial lives.

Feb. 9 The National Treasury Employees Union, which represents CFPB employees, sued Vought, asking a judge to stop him from halting the bureau’s work and alleging he granted staffers from Musk’s Department of Government Efficiency access to CFPB’s internal communications systems, NBC reported.