But the agency has been struggling with several internal problems, including staffing shortages and widespread employee complaints about a toxic culture. The FDIC says that its staffing problems have already made it harder to adequately supervise banks and reduce the risk of bank failures.

Now, those problems are getting much worse. Trump and his billionaire adviser, Elon Musk, are firing workers across agencies as they slash the size of the federal government — and hundreds of FDIC employees have already been affected.

About 170 probationary employees of the FDIC were fired this month after about 500 workers had already accepted the Trump administration’s deferred resignation offer, Bloomberg reported this month. The reported cuts amount to more than 10% of the agency’s workforce.