An economics class at Walker Valley High School recently had the privilege of participating in a video conference with the chairman of the FDIC, Jelena McWilliamsOn Oct 17, the students in Josh …
An economics class at Walker Valley High School recently had the privilege of participating in a video conference with the chairman of the FDIC, Jelena McWilliams
On Oct 17, the students in Josh Justice’s economics class, as well as Director of Bradley County Schools Dr. Linda Cash, were able to hear McWilliams and three other officials discuss the role and responsibility of the Federal Deposit Insurance Corporation. She discussed the history of and the need for deposit insurance as well as the various rules and regulations for banks and other financial institutions.
Chairman McWilliams, an immigrant from the former Yugoslavia, came to the U.S. at the age of 18 with $500. She worked multiple minimum wage jobs through college and was able to earn multiple degrees.
After her family had lost all of their money due to their bank closing in the former Yugoslavia, she has been a fierce advocate for deposit insurance. She served as the Executive VP, chief legal officer, and corporate secretary for Fifth Third Bank in Cincinnati. She was appointed by President Trump and, after being confirmed by the Senate, was sworn in this summer.
The students were able to participate in a question-and-answer session, asking several good questions about deposit insurance, regulations of large banks vs. small banks, and the banking industry in general.
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