11.12.20
Testifying before the House Financial Services Committee last week, Federal Deposit Insurance Corporation (FDIC) Chair Jelena McWilliams indicated that she would not be stepping down from her position until her term expires in 2023. “You have my commitment that I will work with whoever is on my board. I will even ensure this with you, I intend to fulfill the remainder of my term.” When asked about whether her organization is preparing for the transition to a new administration, McWilliams indicated that they are taking the necessary steps to transition. While President-elect Biden has not formally nominated anyone to the FDIC, some names have been identified, including a former aide to Sen. Sherrod Brown (D-OH) Graham Steele and Arnold & Porter lawyer, Charles Yi.