Trump advisers seek to shrink or eliminate bank regulators, WSJ reports

(Reuters) – The Trump transition team is exploring ways to significantly reduce, merge, or even eliminate the top bank regulators in Washington, The Wall Street Journal reported on Thursday.

In recent interviews with potential candidates for leading these regulatory agencies, Trump advisers and officials from the newly established Department of Government Efficiency (DOGE) have inquired about the possibility of the president-elect abolishing the Federal Deposit Insurance Corp, the WSJ said, citing people familiar with the matter.

Advisers have asked the nominees under consideration for the FDIC and the Office of the Comptroller of the Currency, if deposit insurance could then be absorbed into the Treasury Department, the report said.