(Reuters) – The U.S. Treasury department is preparing recommendations for streamlining some banking regulators, Semafor reported on Monday, as it seeks a stronger role in the oversight of the country’s biggest lenders.
The recommendations could impact the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation, the report said, citing three people familiar with the process.
The Treasury department, FDIC and OCC did not immediately respond to Reuters’ requests for comment.
The Trump administration has embraced an expansive view of the presidential power. Last month, an executive order gave the White House greater control over independent agencies.
Treasury Secretary Scott Bessent’s push for greater control over banking regulators aligns with this strategy, according to the Semafor report.
If approved, the recommendations could be the latest in a series of assertive measures by the administration, which has moved to defund federal programs and freeze billions of dollars in spending approved by Congress.
Officials have already taken steps to reshape the financial industry and loosen regulation. The Consumer Financial Protection Bureau — a top consumer watchdog — has been largely dormant after the Trump administration ordered it to halt all activity.
The OCC, the regulator charged with monitoring large national banks, told staff last month it was firing 76 probationary employees.
(Reporting by Ateev Bhandari and Niket Nishant in Bengaluru; Editing by Shilpi Majumdar)
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