4 questions about FDIC’s leadership limbo

By Brendan Pedersen and Joe Adler

WASHINGTON — Even against the backdrop of a power struggle that raised questions about who controlled the Federal Deposit Insurance Corp.’s agenda, the resignation of FDIC Chair Jelena McWilliams with only hours left in 2021 came as a shock to many in the capital. McWilliams had said repeatedly that she planned to serve out the remainder of her five-year term ending in June 2023 regardless of whether a Democrat or Republican was president….But others say partisanship at the agency was eased by McWilliams’ choice to resign rather than challenge the authority of her Democratic directors in court. “We don’t have closure on that question, but I don’t know that it matters anymore,” said Karen Petrou, managing partner of Federal Financial Analytics. “These are matters solely within the FDIC’s purview — not to the White House.”