Trump’s team is asking whether the president-elect could nix financial industry regulators or combine them together, according to a Wall Street Journal report.
Donald Trump’s transition team is reportedly exploring whether the incoming president’s administration can slim down, lump together, or even cut banking regulators.
President-elect Trump’s advisers from the partly Elon Musk-led Department of Government Efficiency have asked in interviews with potential bank regulator picks if a president could, for example, abolish the Federal Deposit Insurance Corporation (FDIC), people familiar with the matter told The Wall Street Journal for a Dec. 12 report.
Trump’s advisers have also queried potential picks for the FDIC and the Office of the Comptroller of the Currency if bank deposit insurance could be folded into the Treasury.
