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
Latest posts by Laura Spivak (see all)
- New York Yankees name Rachel Balkovec as the first female minor league manager - January 16, 2022
- Some cannabis compounds can block COVID-19 infection, study finds - January 16, 2022
- “She’s 13” trends on Twitter after headline highlights bisexuality of Ted Cruz’s daughter - January 16, 2022