Politics

Trump-appointed head of FDIC resigns over a year before the end of her term

Jelena McWilliams, Chair of the FDIC, has resigned over a year before the end of her term.

McWilliams, who was appointed by former President Trump, handed in her letter of resignation on December 31, announcing her departure effective February 4, 2022.

“It has been a tremendous honor to serve this nation, and I did not take a single day for granted,” the letter says. McWilliams did not cite a reason for her resignation in the letter.

In recent weeks, McWilliams has found herself at odds with the other three board members, all Democrats, after she attempted to stop them from formally recording a vote to seek public comment on FDIC bank merger regulations.

The opposing members called the move “unsafe and unsound” in a statement, and called for a review of the board’s bank merger regulations. McWilliams then authored an op-ed in the Wall Street Journal accusing her colleagues of a “hostile takeover” of the FDIC. 

FDIC board member Martin Gruenberg will serve as acting chair until one is nominated by President Joe Biden and confirmed by the Senate.

ARTICLE: LAURA SPIVAK

MANAGING EDITOR: CARSON CHOATE

PHOTO CREDITS: INDEPENDENT

The following two tabs change content below.
Laura is a freelance writer out of Maryland and a mom of three. Her background is in political science and international relations, and she has been doing political writing and editing for 17 years. Laura has also written parenting pieces for the Today Show and is currently working on writing a collection of remarkable true stories about normal people. She writes for FBA because unbiased news is vital to unity, and readers deserve the facts free of opinion.

Leave a Reply