The White House also plans to nominate Jonathan Gould as head of the OCC, and Brian Quintenz as chairman of the Commodity Futures Trading Commission.

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.

The Trump administration's Feb. 8 order that employees of the Consumer Financial Protection Bureau halt much of their work amounts to an existential crisis for a government agency that itself was born from crisis.