Trump's idea to shrink or eliminate FDIC faces political challenges, minimal impact on bank stocks.

From Investing.com: 2024-12-13 15:45:34

U.S. bank stocks remained steady despite reports of Trump’s team considering shrinking or eliminating the FDIC. The idea, aimed at saving government costs, faces challenges in garnering political support. Bank stocks showed minimal movement on Friday as the transition team interviewed candidates for financial agency roles, including bank regulators. Some experts believe streamlining the system is overdue, while others warn of unintended consequences. The FDIC plays a crucial role in ensuring financial stability and overseeing bank resolutions.



Read more at Investing.com: Trump’s floated idea to shutter FDIC would be political heavy lift, say analysts By Reuters