Rohit Chopra was one of the more important regulators from the previous Democratic administration who was still on the job since President Trump took office on Jan. 20.

Trump fired Rohit Chopra, the agency's director and a Biden appointee, over the weekend and installed Scott Bessent, a billionaire hedge fund manager who now serves as treasury secretary, as acting director. Bessent began freezing the agency's operations on Monday.

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