Donald Trump Transition Team Considers Slimming Down Or Even Doing Away With Some Banking Regulators, WSJ Says
US President-elect Donald Trump and his transition team are reportedly exploring whether the new administration can slim down or even completely do away with some banking regulators, according to the Wall Street Journal (WSJ). Trump advisers from the Department of Government Efficiency ( DOGE ) have asked in interviews with regulators in the banking industry if a president could, for example, abolish the Federal Deposit Insurance Corporation (FDIC), the WSJ said in a Dec. 12 report , citing people familiar with the matter. Trump Advisers Consider Lumping Together FDIC, OCC And The Federal Reserve In addition to the potential termination of the FDIC, advisers to Trump have also inquired with possible appointees for the FDIC and the Office of the Controller of the Currency (OCC) about the possibility of integrating bank deposit insurance into the Treasury. They have floated ideas related to combining or overhauling the OCC, FDIC and Federal Reserve as well. If Trump’s te...