Economy

FDIC chair to resign in February, giving Biden more say in bank regulation

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Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021.

Al Drago | Bloomberg | Getty Images

Jelena McWilliams, the head of the Federal Deposit Insurance Corporation and a holdover Trump appointee, said Friday she intends to leave her position in early 2022.

In a surprise announcement, McWilliams said she is resigning effective Feb. 4.

The move gives President Joe Biden another opportunity to strengthen his hand over bank regulation. McWilliams has been with the FDIC since 2018 and recently sparred with congressional Democrats over proposed changes…



Source cnbc.com

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