WSJ: Trump's advisory team is considering significantly reducing or merging major bank regulatory agencies.

According to The Wall Street Journal, the Trump administration is considering significant reductions or mergers of major bank regulatory agencies, including the possible elimination of the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), and the incorporation of deposit insurance functions into the Treasury Department. Sources revealed that the Trump administration and officials from his newly formed Government Efficiency Department have discussed whether the President-elect can abolish the Federal Deposit Insurance Corporation (FDIC) in recent interviews with potential nominees for bank regulatory leadership.

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