Insider: Trump's team seeks to reduce or abolish bank regulatory agencies

According to The Wall Street Journal, insiders revealed that Trump's team is inquiring whether the elected president can cancel or merge financial regulatory agencies. During interviews with potential candidates for banking regulators, Trump's advisors asked some staff from the Department of Government Efficiency if it was possible to abolish institutions like the Federal Deposit Insurance Corporation (FDIC). They also questioned potential candidates for the FDIC and Office of Comptroller of Currency. In addition, they proposed plans to merge or thoroughly reform the FDIC, Office of Comptroller of Currency and Federal Reserve.