Trump Team Considers Eliminating Bank Regulators, Sparking Economic Concerns

President-elect Donald Trump's team is considering plans to weaken or abolish key bank regulators like the FDIC and OCC, potentially merging their functions into the Treasury Department. This move aligns with Project 2025's proposal to consolidate financial oversight and is supported by figures like Elon Musk and Rep. Andy Barr. Critics warn that such deregulation could lead to another economic crisis, as the FDIC was crucial in managing past financial failures. The plan also includes eliminating the Consumer Financial Protection Bureau, raising concerns about reduced consumer protections.