FDIC chair resigns after warning Democrats launching ‘hostile takeover’

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FDIC Chairman Jelena McWilliams announced her resignation Friday in an open letter addressed to President Biden, just weeks after she warned of a “hostile takeover” of the agency by Democrats.

McWilliams, a Serbian immigrant, has lived in the country for decades and boasts a successful career in law, finance, and banking policy.

“When I immigrated to this country 30 years ago, I did so with a firm belief in the American system of government,” McWilliams wrote in the letter.

“During my tenure at the Federal Reserve Board of Governors, the United States Senate, and the FDIC, I have developed a deep appreciation for these venerable institutions and their traditions.”

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She continued, “Throughout my tenure, the agency has focused on its fundamental mission to maintain and instill confidence in our banking system while at the same time promoting…

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