Reported 1 day ago
Donald Trump's transition team is looking to significantly reduce or possibly eliminate major bank regulators, including the FDIC and OCC, according to a Wall Street Journal report. The team is considering merging these agencies or absorbing deposit insurance responsibilities into the Treasury Department, which would necessitate congressional approval. Notably, Elon Musk and Vivek Ramaswamy are co-leading a task force focused on government efficiency, with plans that suggest substantial job cuts and restructuring among federal bank regulators.
Source: YAHOO