Trump-appointed FDIC chair to resign

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In her resignation letter to President Joe Biden, FDIC Chair Jelena McWilliams wrote, “It has been a tremendous honor to serve this nation, and I did not take a single day for granted. Throughout my public service, I have been constantly reminded how blessed we are to live in the United States of America,” calling her time at the FDIC “the highlight of my professional life.”

McWilliams, who said she intends to step down from her role effective February 4, credited the “committed staff of the FDIC” for the US’ economic rebound from Covid-19.

Her resignation as the sole Republican on the five-member board hands control of the agency to Democrats, potentially removing an obstacle to the Biden administration’s regulatory agenda. And while her letter does not mention why she’s resigning before her term ends in June 2023, McWilliams has asserted publicly in recent weeks that she believes…

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