On Tuesday, September 24th, New York City Schools Chancellor David Banks announced his retirement, effective December 31, 2024. This decision follows a federal investigation into a possible bribery scheme involving Banksโ younger brother, Terence Banks, which has rocked Mayor Eric Adamsโ administration. The FBI seized David Banksโ phone earlier this month as part of the probe. Despite the investigation, Banks has denied any wrongdoing and emphasized his lifelong commitment to integrity.
Following the retirement announcement, Mayor Adams praised Banks for his transformative leadership in the cityโs public schools. Banks introduced key initiatives like โNYC Reads,โ a literacy program to improve reading scores, and mandated universal dyslexia screenings. He also launched โNYC Solves,โ a math achievement initiative. These programs marked significant advancements during Banksโ nearly three-year tenure as chancellor. Adams said, โI am immensely grateful and proud of the work accomplished in New York City Public Schools under Chancellor David Banks. In less than three years, our cityโs public schools have transformed โ from ensuring schools were safe and open coming out of the pandemic to a space that has increased our studentsโ reading scores, math scores, and graduation rates.โ
He continued, โWeโve done all this and more on behalf of nearly 1 million public school students, and Chancellor Banks was crucial to getting that done every day. On behalf of all New Yorkers, we thank Chancellor Banks for his service, and wish him well in his retirement at the end of the calendar year.
However, Banksโ achievements have been overshadowed by the ongoing federal investigation, which has also affected other top city officials.
The investigation focuses on Terence Banks and his consulting firm, though all three Banks brothersโDavid, Terence, and Phil, who is the Deputy Mayor for Public Safety,โdeny any involvement in illegal activity. Despite the turmoil, David Banks remained committed to his work, stating, โI have always lived my life with integrityโฆ weโll wait and see where these investigations go.โ All three Banks brothers and First Deputy Mayor Sheena Wright, who lives with David Banks and is his romantic partner, had their phones and devices taken by the FBI in early September.
As his tenure draws to a close, Banksโ reforms in literacy and math are seen as lasting legacies. Half of the cityโs elementary schools have adopted new reading curricula under his leadership, and the rest will follow next year. While praised by many education experts, some parents have criticized the rigid nature of these programs.
Banksโ resignation comes at a time of widespread federal scrutiny over several of Adamsโ key appointments. With the investigation ongoing, Banksโ contributions to New York Cityโs education system may continue to be evaluated in the context of the political challenges surrounding his departure.