Summary
Trump’s team is considering abolishing key banking regulators, including the FDIC and OCC, with plans to consolidate their functions under the Treasury Department.
Critics warn this could undermine public trust in banking, weaken deposit insurance protections, and risk another financial crisis.
The FDIC, established during the Great Depression, played a crucial role in managing the 2023 banking crisis.
Trump allies, backed by financial industry donors, are also targeting other consumer protections, reflecting sweeping deregulatory ambitions tied to Project 2025’s proposals.
Experts fear these moves could destabilize the economy.
Just where the fuck will people do their banking without FDIC?
I saw that asshat Andreesen lying his fucking ass off on Rogan about how the poor little tweedums on the right were being “debanked” because of “free speech”, but not anyone else.
Meanwhile, what the hell would you call something like this?
The right has people within it that are just so insane that I really do think some would withdrawal their money from the bank, and set all their own cash on fire if they thought it would pwn teh libz.
I would just avoid ALL US banks. Canada has CDIC and our future Trumpian PM hasn’t been paid yet to kill it.
US stores don’t care where the money comes from so that could be an option.
Do y’all have any banks that hold USD? Or are you recommending that I convert my life savings to CAD and transfer to a Canadian bank with CDIC?
Offshore banking: no longer just for the rich!
A MAGAt would eat his own shit if he knew a WoKe LibRuL would have to smell it
Exactly this.
We should start this rumor. It’ll totally own me. I’ll be so subservient if they burn all their money. 😉
Credit unions use the NCUA instead of FDIC. So if they don’t go after that as well there are still some options.