Ex-FDIC Chair, Cravath Partner Joins Fintech Firm Plaid

Jelena McWilliams, the former chair of the Federal Deposit Insurance Corp. (FDIC) and a partner at Cravath, Swaine & Moore, has joined fintech firm Plaid as its president of corporate and external affairs.​

Who is Jelena McWilliams?

• McWilliams served as FDIC chair from 2018 to 2021 (some reports note service into 2022), overseeing federal deposit insurance and bank supervision during a period of significant regulatory debate.​

• After leaving the FDIC, she joined Cravath, Swaine & Moore and helped anchor the firm’s Washington, D.C. office and financial services practice.​

Her new role at Plaid

• At Plaid, McWilliams will serve as president of corporate and external affairs, a senior executive role.​

• She is expected to oversee policy, regulatory strategy, and industry relations as Plaid navigates evolving financial regulation and relationships with banks and regulators.​

Why this move matters

• McWilliams brings deep regulatory and policy expertise to Plaid, which handles data connectivity between banks and fintech apps and operates in a heavily scrutinized space.​

• Plaid’s CEO has highlighted her as a “consistent voice for transparency, consumer protection, and innovation,” signaling a push to strengthen trust with regulators, banks, and consumers.​

Impact on Plaid and fintech

• Her hire suggests Plaid aims to shape and anticipate regulatory frameworks around data access, consumer protection, and bank–fintech partnerships, rather than simply reacting to them.​

• The move may encourage closer collaboration between fintechs and regulators, potentially smoothing the path for new products while emphasizing compliance and consumer safeguards.​