New FDIC Chair Confirmed by Congress
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.