Adam Rust, the director of financial services with the Consumer Federation of America, explained what would happen if the Consumer Financial Protection Bureau shut down for good.

The Trump administration has continued to focus on deregulation, effectively shuttering the CFPB over the weekend. Why it matters: Fintechs have complained about overzealous regulation for years. But this news isn't all wine and roses for the industry.

Consumer Financial Protection Bureau employees demanded Monday to be let into the agency's Washington, D.C., building after Elon Musk's Department of Government Efficiency essentially shut down the bureau.