Trump's Regulatory Shakeup: Doge Plots Strategic Moves

The Trump transition team is considering significant changes to Washington's top banking regulators, including potential mergers or eliminations. The Wall Street Journal reports that candidates for leadership positions face questions about integrating the Federal Deposit Insurance Corp. into the Treasury Department, guided by the Department of Government Efficiency's new strategic vision.

The Trump transition team is reportedly planning sweeping changes to the regulatory landscape of the banking sector in Washington. The Wall Street Journal revealed on Thursday that the team is contemplating reducing, merging, or possibly eliminating key regulatory bodies.

According to recent interviews with potential agency leaders, Trump's advisers and officials from the newly minted Department of Government Efficiency (DOGE) have discussed the possibility of dissolving the Federal Deposit Insurance Corp. Sources familiar with these discussions informed the WSJ of these developments.

The transition team has been inquiring whether the critical function of deposit insurance, typically managed by the FDIC, could be transferred to the Treasury Department, posing fundamental shifts in the oversight of national banking practices.

(With inputs from agencies.)