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


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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.”

UNITED STATES – MAY 16: Jelena McWilliams, President of the Federal Deposit Insurance Corporation, testifies at a House Financial Services Committee hearing in…

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