FDIC chair resigns after warning Democrats launching ‘hostile takeover’

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.”