One thing I didn't stress in this story: The FDIC is largely funded through fees and assessments on banks. So is the OCC. The CFPB is funded through the Fed. Even if you believe the efficiency/taxpayer money argument, these agencies aren't ballooning the federal budget.
Reposted from
Evan Weinberger
How serious is the Trump administration about attempting to combine federal banking regulators? The OCC now has email lists for transferees from the CFPB and the FDIC. New from me: news.bloomberglaw.com/banking-law/...
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The FDIC protects small accounts like ours. IF it & Bank regs disappears there will be runs on the bank like in It's a Wonderful Life (with no George Bailey), where we get pennies on the dollar for our life savings.