A rare public fight between the FDIC’s Democratic board members and its Republican chairman over bank merger policy is likely the first salvo in a battle to bring the regulator’s agenda in line with the Biden administration.
The Federal Deposit Insurance Corp. was ripe for a conflict with Chairman Jelena McWilliams—a former bank executive appointed by President Donald Trump in 2018—being outnumbered by three Democrats on the agency’s five-member board.
But few expected it to happen just two months after President Joe Biden’s choice to lead the Consumer Financial Protection Bureau, Rohit Chopra, was confirmed to his post, which automatically ...
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