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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.”