Hello and welcome to the details of WSJ: Trump team mulls merging or scrapping US banking oversight agencies and now with the details
Nevin Al Sukari - Sana'a - Federal Deposit Insurance Corporation Chairman Martin Gruenberg testifies before a House of Representatives Financial Services Committee hearing on Capitol Hill in Washington March 29, 2023. The Trump transition team is exploring ways to significantly reduce, merge, or even eliminate the top bank regulators in Washington. — Reuters pic
WASHINGTON, Dec 13 — The Trump transition team is exploring ways to significantly reduce, merge, or even eliminate the top bank regulators in Washington, The Wall Street Journal reported yesterday.
In recent interviews with potential candidates for leading these regulatory agencies, Trump advisers and officials from the newly established Department of Government Efficiency (DOGE) have inquired about the possibility of the president-elect abolishing the Federal Deposit Insurance Corp, the WSJ said, citing people familiar with the matter.
Advisers have asked the nominees under consideration for the FDIC and the Office of the Comptroller of the Currency, if deposit insurance could then be absorbed into the Treasury Department, the report said. — Reuters
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