US Treasury Considers Streamlining Bank Regulators: Semafor

The Treasury Department is drafting recommendations for streamlining banking regulators like the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation, Semafor reports, citing three people familiar with the matter.

• Treasury concluded that the agencies and their workers likely can’t be merged without Congressional approval
• Treasury officials are expected to finalize recommendations in coming weeks, after Senate approval of nominees such as Luke Pettit, Trump’s pick for assistant treasury secretary for financial institutions
• The Treasury Department did not provide comment to Semafor

To contact the reporter on this story:
Alexander Pearson in Washington, DC at ...