FDIC Director Jonathan McKernan announced he was stepping aside from the FDIC board of directors.
Details: McKernan said on X that his term has expired and that with Rodney Hood being tapped to serve as acting comptroller of the currency, the board would have more Republicans than permitted by law.
Statement: McKernan added: “I’ve every confidence that under the new FDIC leadership, the FDIC will succeed in its mission while also reversing the regulatory overreaches of the last few years.”