David Banks, N.Y.C. Schools Chancellor, Moves Up His Departure

David C. Banks will step down as the New York City schools chancellor on Oct. 16, months earlier than he had previously said he would, City Hall announced on Wednesday.

In recent weeks, Mr. Banks has been swept up in a wide-ranging corruption scandal, which has resulted in the indictment of Mayor Eric Adams and has also involved Mr. Banks’s brothers Philip Banks III and Terence Banks, and his wife, Sheena Wright, the first deputy mayor, as well as other members of the mayor’s inner circle.

The Banks brothers and Ms. Wright had their phones seized by federal agents in early September as part of an investigation into a consulting firm run by Terence Banks.

The announcement on Wednesday came just hours after federal prosecutors told a judge that they might bring additional charges against the mayor and that charges against other people were likely. The chancellor has not been charged with any crimes and has maintained that he has done nothing wrong.

In a statement on Wednesday, he did not address the change in timing of his departure from the role, but he reiterated that he had been told that he was not a target of the federal investigation involving the mayor.

“I have conducted myself with integrity for almost 40 years, educating New York City’s young students,” he said. “My record and my reputation speaks for itself.”