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.

The Consumer Financial Protection Bureau and will suspend most of its operations, according to a memo from its new acting director Russell Vought.

CFPB employees were told Sunday to work remotely because their Washington, D.C., headquarters would be closed through Feb. 14, according to a memo.