On March 28, several members of the U.S. House of Representatives sent a letter to FDIC Acting Chairman Travis Hill, expressing concern over reports of diminishing independence in the FDIC under his leadership. The representatives highlighted worries about undue political pressure from DOGE and potential plans to merge the FDIC with other federal banking regulators, which the representatives argued could undermine its role in ensuring financial stability and consumer protection.

The letter emphasized the FDIC’s critical role to promote confidence in the U.S. banking system — free from political influence. The letter warned that staff reductions and rescinded job offers could lead to less oversight and increased risks in the banking sector. Additionally, the letter raised concerns about the potential merger of the FDIC with other regulators like the CFPB and the OCC, a move requiring congressional approval and which the representatives stated is opposed by many financial institutions.