Trump team seeks to shrink or eliminate bank regulators
Business Standard|December 14, 2024
US President-elect Donald Trump's transition team is exploring ways to significantly reduce, merge, or even eliminate the top bank regulators in Washington, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Trump team seeks to shrink or eliminate bank regulators

Trump advisers and officials from the newly established Department of Government Efficiency (DOGE) inquired about the possibility of abolishing the Federal Deposit Insurance Corp (FDIC), according to the newspaper.

Advisers have asked the nominees under consideration for the FDIC, as well as the Office of the Comptroller of the Currency, if deposit insurance could be absorbed into the Treasury Department, the Journal said, adding that any proposal to eliminate the FDIC or any agency would require congressional action.

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