By a bipartisan vote of 69 to 24, the Senate today confirmed Jelena McWilliams as chairman of the FDIC. McWilliams was most recently EVP and general counsel at Cincinnati-based regional bank Fifth Third, which she joined early in 2017.
“We welcome Jelena McWilliams’ confirmation as chairman of the Federal Deposit Insurance Corporation,” said ABA President and CEO Rob Nichols. “Her confirmation to lead this important agency will allow the FDIC to continue its vital work encouraging a robust and vibrant banking system that can evolve to meet the diverse needs of bank customers, while maintaining safety and soundness. We especially look forward to working with her on policies that encourage new bank formation, which increases consumer choice and drives economic growth in local communities.”
McWilliams was previously chief counsel and deputy staff director at the Senate Banking Committee under former Chairman Richard Shelby (R-Ala.), and she also served as counsel to the Senate Small Business Committee. Earlier in her career, McWilliams was an attorney in private practice and at the Federal Reserve Board of Governors. In her new role, she will replace Chairman Martin Gruenberg, who has led the agency in acting or confirmed capacities since 2011.
“We also want to thank Chairman Gruenberg for his long and dedicated public service and look forward to continuing to work with him as he continues to serve on the FDIC board,” Nichols added.