President-elect Donald Trump’s transition team is considering a significant restructuring of financial regulatory agencies, including the potential abolition of the FDIC and merging its functions with the Treasury Department. Major changes would require congressional approval, which is historically challenging. The banking industry anticipates benefits from Trump’s reelection, with expectations of rolling back regulations imposed during the Biden administration, particularly those affecting capital requirements and the crypto sector. FDIC Chair Martin Gruenberg has announced his retirement effective January 19, 2025, amid internal investigations into workplace issues.
