FDIC and OCC Rescind Job Offers Amid Hiring Freeze

Two banking regulators — the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency — are reportedly complying with a federal government-wide hiring freeze announced by President Donald Trump in an executive order last week.

For the FDIC, that compliance included rescinding more than 200 job offers it had made to new examiners, The Washington Post reported Monday (Jan. 27), citing unnamed sources.

The agency is complying with the hiring freeze even though it traditionally operates independently of the White House, according to the report.

The OCC also froze its hiring, but the number of positions curtailed is not known, per the report.

Reached by PYMNTS, spokespeople for the FDIC and the OCC declined to comment on the report.

The FDIC currently has 2,300 examiners among its 6,000 employees, according to the report.

Sen. Elizabeth Warren of Massachusetts, a member of the Senate Banking Committee, said in a Monday post on social platform X: “When there weren’t enough bank examiners on the beat, SVB and Signature Bank failed, requiring big bailouts. The FDIC should explain why it’s now axing even more examiners whose job it is to make sure big banks don’t crash our economy.”

Trump issued his executive order on the hiring freeze Jan. 20, saying no federal civilian position that was vacant on that date may be filled, no new position may be created and no contracting outside the federal government may be done.

“In carrying out this memorandum, the heads of executive departments and agencies shall seek efficient use of existing personnel and funds to improve public services and the delivery of these services,” the order said. “Accordingly, this memorandum does not prohibit making reallocations to meet the highest priority needs, maintain essential services, and protect national security, homeland security and public safety.”

Travis Hill, the acting head of the FDIC named by Trump, said last week that a sweeping review of bank regulations is at the top of a lengthy list of matters he hopes to address in the weeks and months ahead.

Hill said he plans a “wholesale review of regulations, guidance and manuals to ensure our rules and approach promote a vibrant, growing economy.”