US Treasury in talks with federal agencies to ease bank oversight, Bloomberg News says

[Zorro]

U.S. Treasury Secretary Scott Bessent is hosting private meetings with federal and other bank agencies as a part of his expanded effort to streamline oversight and coordinate plans to ease regulation, Bloomberg News reported on Thursday.

The Treasury Department will take the lead on creating recommendations on the policy agenda, the report added, citing people with knowledge of the matter.

The Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) declined to comment on the report, while the U.S. Treasury did not immediately respond to Reuters requests for comment.

Bessent said last week his department will play a greater role in banking regulation to better balance costs and benefits and ensure that lenders can finance growth in the U.S. economy.

https://finance.yahoo.com/news/us-treasury-talks-federal-agencies-170744812.html

The banking crises of the 1980s and 2000s during previous Republican administrations seem to be being ignored by this Republican administration. Of course.

One nettlesome regulation they'll probably want to eliminate is the guaranteed FDIC $250k insurance coverage for individual account deposits.

[Irish_Dem]

1. This is why the wealthy installed Trump into office.

Tax breaks, no regulation, scams against consumers.

Crime sprees are now legal.

[Moostache]

2. If they re-crash the bankiing industry (ala 2008)...

I will not settle for anything less than the literal heads on pikes of EVERY bank CEO that ends up busted and trying to get saved again by the tax payers. This time, they ALL go down or the entire fucking world can burn with them, but there will NEVER be another bailout without a massive LITERAL bloodletting.

[Yo_Mama_Been_Loggin]

4. More or less what I was going to say

Let's hope they're not successful.

[sinkingfeeling]

3. Third time's the charm.... banks don't need no regulation.

[Demsrule86]

5. 2008 all over again only worse...

I have heard the GOP opine that we don't need no stinking FDIC...

[FirstLight]

7. The second that sticker comes off the side of my bank

I pull all my money out and I guess we go to a barter system

[CousinIT]

6. So when SHItler destroys the economy and there's a run on banks, we're f*cked. nt

[Redleg]

8. JFC- it's like we need to learn the same lessons over and over again

I really do despair. My first axiom of politics is that we the people have very short damned memories. I haven't gotten around to the other axioms because I keep forgetting to do so.

[sakabatou]

9. Nothing bad could come from easing oversight, right?

The banks want another hand-out, don't they?