WSJ: Trump's team seeks to cut or merge banking regulatory agencies
ChainCatcher news, according to the Wall Street Journal, Trump's team is inquiring whether the president-elect can abolish financial regulatory agencies or merge them together.
Insiders revealed that when President-elect Trump's advisors were interviewing potential candidates for banking regulators, they asked some of the advisors from Elon Musk-led Department of Government Efficiency if it was possible to abolish institutions like Federal Deposit Insurance Corporation (FDIC).
Trump's advisors also questioned potential candidates for FDIC and Office of Comptroller of Currency about merging bank deposit insurance into the Treasury. In addition, plans were proposed to merge or thoroughly reform FDIC, Office of Comptroller of Currency and Federal Reserve.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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