Trump Transition Team Explores Abolishing FDIC, Per WSJ

Dec 13, 2024, 12:03 AM

The Trump transition team is exploring options to significantly reduce or eliminate key financial regulatory agencies in Washington, including the Federal Deposit Insurance Corporation (FDIC). According to reports from the Wall Street Journal, advisers to President-elect Donald Trump have been discussing the potential abolition of the FDIC and other top bank watchdogs. These discussions include inquiries to potential nominees about the feasibility of such drastic changes. The move is seen as part of a broader initiative to streamline government operations, with the Department of Government Efficiency (DOGE) also involved in these considerations.