Project 2025 Tracker / What’s done, what’s next

22. Department of the Treasury · Major · Needs Congress

Merge the OCC, FDIC, NCUA, and the Fed's supervisory functions

Not started

705 22. Department of the Treasury

“The new Administration should establish a more streamlined bank and supervision by supporting legislation to merge the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Federal Reserve's non-monetary supervisory and regulatory functions.”

What has happened

  1. Not started

    No legislation to merge the OCC, FDIC, NCUA and the Federal Reserve's supervisory functions has been introduced or endorsed, and the administration has not asked for one. Treasury's stated financial-regulatory program — Secretary Bessent's 2025-07-21 remarks at the Federal Reserve Capital Conference — is interagency coordination and capital recalibration with the existing agencies left in place; EO 14393 (2026-03-13) likewise directs each of the four regulators separately.

    No action found yet. This entry is the starting point, not a finding.

Research log

What was searched, and what didn’t count as evidence

Research notes

  • Queries that found nothing: jq over bills.ndjson for titles matching merge|consolidat|Comptroller of the Currency Act|Federal Deposit Insurance|Credit Union Administration|regulatory agencies, and for CHOICE Act|Financial Institution|Wall Street. The only 119th-Congress items touching these agencies are Congressional Review Act resolutions against individual rules (H.J.Res. 47, 49, 50; S.J.Res. 13, which became Public Law 119-19).
  • Treasury’s press index for 2025 and 2026 (home.treasury.gov/news-data/press-releases/search/) was searched for occ|comptroller|fdic|ncua|federal reserve|bank regulat|consolidat|supervis| dodd|charter. The substantive hit, Secretary Bessent’s Federal Reserve Capital Conference remarks of 2025-07-21 (https://home.treasury.gov/news/press-releases/sb0202), was read in full: it calls for a “fundamental reset of financial regulation” delivered through interagency consultation, and explicitly says “the bank regulators must continue to carry out their statutory mandates”. No merger is proposed.
  • EO 14393 (https://www.federalregister.gov/documents/2026/03/18/2026-05384/promoting-access-to-mortgage-credit, signed 2026-03-13) was read in full: it addresses the Federal Reserve Vice Chairman for Supervision, the CFPB Director, the NCUA Board Chairman, the FDIC Board Chairperson, the Comptroller of the Currency and the FHFA Director as separate officers. Read, not used as Evidence — an order that presupposes four agencies is not an act on this Recommendation.
Action
transfer
Object
federal bank regulatory agencies
ID
1981