Would Project 2025 eliminate the FDIC? What we can VERIFY [Video]

Project 2025 proposes merging the FDIC with other federal banking agencies, but it’s unclear how that merger would affect government-backed deposit insurance.

Project 2025, the conservative think tank The Heritage Foundation’s plan to transform the federal government during the next conservative administration, is garnering more attention as the 2024 presidential election approaches. VERIFY has received dozens of questions from our readers about the plan and what it entails.

“Project 2025 will get rid of the FDIC so your bank accounts are no longer insured, while also deregulating banks so they can take risks that make them more likely to fail. How do you feel about the safety of your life savings being up to banks?” a viral post with over 43,000 shares claims.

Multiple VERIFY readers, including Bobby, Don and Eve, have asked whether these claims are true.