Trump Advisers Push for Major Banking Deregulation Amidst Opposition

President-elect Donald Trump's transition team reportedly plans to reduce or eliminate major banking regulators like the FDIC, but such moves are unlikely to gain the necessary political support. Despite a Republican majority in Congress, bipartisan backing is needed, which is improbable. Banking stocks showed little reaction to the news, as Wall Street remains skeptical of the plan's feasibility. The FDIC is crucial for financial stability, and its potential elimination has drawn criticism from financial experts.