New York City Hall faced yet another resignation of a high official as the Education Chancellor David Banks announced on September 24 that he will retire at the end of this year. Banks, who grew up in Brooklyn, visited Mayor Adams at Gracie Mansion earlier in the day to inform him of his decision to retire on December 31 after nearly 40 years of service to the city’s public schools. He expressed gratitude to Mayor Adams for the opportunity to serve as the Education Chancellor.
Mayor Adams reciprocated the appreciation through a statement, acknowledging the achievements made under Banks’ leadership in the past three years, from safely reopening schools post-pandemic to improving students’ math and reading scores and graduation rates. “Chancellor Banks played a critical role in accomplishing all of this work,” the Mayor stated. “On behalf of New Yorkers, I thank him for his service and wish him a smooth retirement at the end of the year.”
Banks, a former teacher and principal, went on to establish the Eagle Academy for Young Men, and his close friendship with Mayor Adams led to his appointment as the Education Chancellor upon Adams’ mayoral election. His resignation comes less than a month after the FBI searched his residence shared with the First Deputy Mayor Sheena Wright and confiscated his phone.
While Banks affirmed that his lawyer assured he is not a target of the investigation, several city officials associated with him have come under federal scrutiny. In addition to Wright, his brother Phil Banks, who serves as the Deputy Mayor for Public Safety, and Mayor’s advisor Terence Banks also faced FBI investigations. The federal inquiry is examining whether Terence Banks’ consulting firm leveraged his brothers’ connections to assist companies in illicitly obtaining city contracts.
Mayor Adams’ administration is embroiled in scandal, with over a dozen high-ranking officials under federal investigation. Banks becomes the fourth high official to resign, following Police Commissioner Edward Caban, Chief Legal Advisor Lisa Zornberg, and Health Commissioner Dr. Ashwin Vasan, who announced his resignation effective early next year just a day prior. Furthermore, ABC News reported speculation surrounding the potential resignation of First Deputy Mayor Wright as she did not attend the weekly city hall press briefing on the 24th.