At a board meeting that was livestreamed, McWilliams rejected a bid by Consumer Financial Protection Bureau Director Rohit Chopra — an FDIC board member and ally of Sen. Elizabeth Warren (D-Mass.) — to add a record of the vote to the FDIC’s official minutes.
Later, in an op-ed in the Wall Street Journal, McWilliams referred to the episode as a “hostile takeover.” But she made no mention of the saga in her resignation letter to President Joe Biden on Friday.
“When I immigrated to this country 30 years ago, I did so with a firm belief in the American system of government,” said McWilliams, who was born in former Yugoslavia, in her letter to Biden. “During my tenure at the Federal Reserve Board of Governors, the United States Senate, and the FDIC, I have developed a deep appreciation for these venerable institutions and their traditions. It has been a tremendous honor to serve this nation, and I did not take a single day for granted.”