NEW YORK (1010 WINS) – New York City Schools Chancellor David C. Banks will retire by the end of the year, according to a letter sent to City Hall.
The announcement comes as Banks, 62, is embroiled in a federal investigation that resulted in his phone being seized by authorities earlier this month.
Banks’ decision to step down was reportedly in the works before the investigation, which has affected multiple members of Mayor Eric Adams’ administration. In recent weeks, the home Banks shares with Deputy Mayor Sheena Wright was raided by federal investigators.
The ongoing probe also involves his two brothers and focuses on bid-rigging for city contracts and enforcement of nightlife regulations.
“I am incredibly proud of what we have accomplished during my tenure,” Banks wrote in his resignation letter to Adams. “The opportunity to work alongside such dedicated professionals to shape the future of education in our great city is one that I will always cherish.”
During his time as Chancellor, Banks oversaw several major initiatives, including expanding special education services, gifted & talented programs, improving school food, and welcoming over 45,000 migrant students into the city’s school system.
“Serving as Chancellor has been a profound honor and a deeply fulfilling experience,” Banks wrote. “Thank you for the opportunity to serve, and for your support throughout my tenure. Please know that I will do everything possible to ensure a smooth transition. I am confident that NYC Public Schools will continue to grow, innovate and excel under the next Chancellor.”
Banks’ resignation follows that of NYPD Commissioner Edward Caban, who stepped down amid mounting pressure from a federal investigation.