New FDIC Chair Confirmed by Congress – NMP
Regulation and Compliance

New FDIC Chair Confirmed by Congress

May 25, 2018
The Senate has confirmed Jelena McWilliams by a vote of 69 to 24 to be a member of the FDIC Board of Directors and to serve as the next FDIC Chair

The Senate has confirmed Jelena McWilliams by a vote of 69 to 24 to be a member of the FDIC Board of Directors and to serve as the next FDIC Chair.
 
“State regulators look forward to working with new FDIC Chair McWilliams to continue tailoring federal regulations based on a bank’s risk profile," said CSBS President and CEO John Ryan. "In particular, state regulators look to be helpful partners in the rule-making process for the bipartisan regulatory reform law and in ensuring the safety and soundness of state-chartered financial institutions.”
 
In addition to serving as the chief counsel at the Senate Banking Committee, McWilliams was a Federal Reserve Board of Governors lawyer and Chief Legal Officer at Fifth Third Bank. McWilliams will join Martin Gruenberg (whose term as a member of the FDIC Board expires in December 2018), Comptroller Joseph Otting, and CFPB Acting Director Mick Mulvaney, giving the FDIC Board four of its five members.

 
About the author
NationalMortgageProfessional.com
Link copied
Published
May 25, 2018
Get the NMP Daily
Analysis and Data
Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

The September jobs report gave the mortgage market something it hasn't had much of lately: downward pressure on Treasury yields.U.S. employers added just 29,000 jobs in September, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics. The ...

Continue reading
Wholesale
The Loan Store Rebrands As Averra Financial

The wholesale lender is adopting a new identity three years after acquiring Homepoint’s wholesale business and rising to No. 4 in industry rankings

The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company annou...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Analysis and Data
Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Analysis and Data
Oct 02, 2026
Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Analysis and Data
Oct 01, 2026
Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Analysis and Data
Sep 29, 2026
Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Analysis and Data
Sep 25, 2026
Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Analysis and Data
Sep 25, 2026
Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Tech
Sep 23, 2026