FDIC Chair Resigns, Warns Democrats Launching 'Hostile Takeover'

FDIC Chairman Jelena McWilliams announced her resignation Friday in an open letter addressed to President Biden, just weeks after she warned of a “hostile takeover” of the agency by Democrats.
McWilliams, a Serbian immigrant, has lived in the country for decades and boasts a successful 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.
McWilliams did not provide a direct reason for her resignation in her letter to the president. However, she previously published a December op-ed in which she described a “hostile takeover” of the FDIC by Democrats.