In a startling turn of events, David C. Banks, the chancellor of New York City's public school system, has announced his resignation effective at the end of December. His decision to step down comes amidst a series of federal investigations into Mayor Eric Adams and his administration. Banks, a long-time ally of the mayor, is the latest official to resign in the wake of a corruption scandal that has shaken City Hall to its core.

Banks' resignation follows federal agents seizing his phone, as part of an investigation that appears to involve a consulting firm run by his younger brother. The chancellor's fiancée, Sheena Wright, who serves as the first deputy mayor, also had her phone confiscated during the same time. The upheaval in the city government has already led to the resignations of other high-ranking officials, such as the police commissioner and the top lawyer, with the health commissioner also set to step down by the end of the year.

A trusted friend and informal education adviser to Mayor Adams, Banks was initially hailed as the ideal candidate to lead the nation's largest school system when he was appointed in 2021. However, recent events have cast a shadow over his tenure, with challenges ranging from budget cuts to the handling of migrant children arriving in the city. Despite receiving accolades for his efforts, the chancellor has decided to retire at the end of the year, leaving a void in the administration that remains to be filled.