FDIC chairman resigns after warning Democrats to launch ‘hostile takeover’

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

McWilliams, a Serbian immigrant, has lived in the country for decades and boasts a distinguished 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 on the Federal Reserve Board of Governors, the United States Senate, and the FDIC, I developed a deep appreciation for these venerable institutions and their traditions.”