Jelena McWilliams, who has been serving as chief legal officer at Cincinnati-based Fifth Third Bank since January, was named to succeed Martin Gruenberg as chair of the Federal Deposit Insurance Corp. last week.
Little is known about McWilliams' policy views, but she spent six years as a Republican staffer at the Senate Banking Committee, and before that served at the Federal Reserve Board. She's been known to carry a bound version of the Dodd-Frank Act for reference.
Her appointment raises many questions
about where she stands on certain issues, including small-dollar lending and the industrial loan company charter.
The administration had initially forwarded former House Financial Services Committee staffer James Clinger as FDIC chair, but he withdrew for personal reasons in July.