Trump and Musk say they want to reduce government spending. But their cuts to the FDIC won’t save taxpayers any money — because the FDIC doesn’t cost taxpayers anything in the first place. Instead, it’s funded by banks, which pay the FDIC quarterly dues based in part on the deposits they hold.

This isn’t even about their stated goal of saving taxpayers money. Its about removing protections of bank consumers and letting big business screw consumers.

This is another good reason to move to credit unions. They are protected by the NCUA rather than the FDIC.