The incoming Trump administration clearly intends to make massive federal government cuts. In addition to what has already been brought up, the Wall Street Journal just reported that potential nominees were being asked if the major bank regulators could be closed.
One agency reportedly mentioned has been the Federal Deposit Insurance Corporation, with deposit insurance moved into the Treasury Department. Elimination of any agency requires congressional action, which rarely happens. But in these latest rounds of interviews with potential nominees, there’s also been discussions of restricting and integrating the FDIC, Office of the Comptroller of the Currency, and the Federal Reserve.
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