Trump-appointed FDIC chairman resigns after warning of 'hostile takeover' of agency by Democrats

Directors have butted heads in recent weeks.

Published: January 1, 2022 2:04pm

Updated: January 1, 2022 3:53pm

Jelena McWilliams, appointed by President Donald Trump in 2018 as chairwoman of the Federal Deposit Insurance Corporation, has resigned from her post her, just weeks after warning of a "hostile takeover" of the agency's leadership by Democrats. 

In a letter Friday to President Biden, McWilliams, a Serbian-born lawyer and an immigrant to the U.S., said she would be leave at the beginning of February.

"Serving the American people alongside the dedicated career professionals of the FDIC has been the highlight of my professional life," she wrote. 

The letter did not specify a reason for McWilliams's resignation. But in a Wall Street Journal op-ed in mid-December, she had warned of a "hostile takeover" of the agency's board by Democratic officials. 

Those officials had been butting heads with McWilliams in recent weeks over various procedural issues related to the leadership of the board. 

Rohit Chopra, the director of the Consumer Finance Protection Bureau and a member of the FDIC board, had claimed earlier in December that McWilliams was stymying efforts by him and other Democratic-aligned officials to review bank merger rules.  

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