McWilliams to resign as FDIC chief in sudden end to power struggle
Federal Deposit Insurance Corp. Chair Jelena McWilliams announced she will resign early next year, a decision that comes just weeks after a partisan struggle on the agency's board threatened her leadership.
In a letter to President Biden, McWilliams said her departure will be effective Feb. 4. Her resignation means former FDIC Chair Martin Gruenberg, now an internal member of the agency's board, will likely lead the agency on an acting basis until the Biden administration nominates a successor. It will be his third time at the helm of the FDIC.