Chair of FDIC fields questions regarding economy during pandemic

WASHINGTON, D.C. (WNAX) – Banks have been very involved in moving billions of dollars in federal aid to help keep businesses operating in the face of the coronavirus pandemic.

The head of U.S. banking regulation says they should not worry about watchdogs coming back on them.

Jelena McWilliams, Chair of the FDIC held a conference call with bankers in North and South Dakota and got lots of questions.

McWilliams says she also heard about FDIC actions following the 2008 downturn.

McWilliams says she reassured bankers that the FDIC understands the conditions and issues they are working with.

McWilliams had been working her way around all 50 states, meeting with bankers, until the pandemic disrupted her travel plans.