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.

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.

President Donald Trump has tasked Treasury Secretary Scott Bessent with serving as the acting director of the Consumer Financial Protection Bureau, the agency said Monday.