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.

Tech billionaire Elon Musk signaled on Friday he could next seek to dismantle the Consumer Financial Protection Bureau, as a team of his advisers — deputized by President Donald Trump to cut costs — began to burrow into the powerful federal watchdog agency and its computer systems.

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.