Jonathan McKernan Steps Down from FDIC Board on February 10, 2025; FTC Appoints Christopher Mufarrige, Daniel Guarnera, and Lucas Croslow

Jonathan McKernan has announced his departure from the Federal Deposit Insurance Corporation (FDIC) Board, stating that his term has expired. He emphasized the need to maintain the political balance on the board, which would shift to having more Republicans than allowed by law with the new Acting Comptroller. McKernan's service was recognized by Senator Tim Scott, who noted his role in countering regulatory overreach during the Biden administration. In related news, the Federal Trade Commission (FTC) Chairman Ferguson appointed Christopher Mufarrige as the Director of the Bureau of Consumer Protection, Daniel Guarnera as the Director of the Bureau of Competition, and Lucas Croslow as General Counsel of the FTC.