Bair to leave FDIC in July

sheila-bair-fdic-2010

Sheila Bair is to leave the Federal Deposit Insurance Corporation (FDIC) on July 8, at the end of her five-year term as chair, said the regulator on Monday.

Bair is regarded as having steered the regulator, which insures deposits and resolves banks, well through the financial crisis, and leaves it with an expanded ambit. Under the Dodd-Frank Act, introduced into law last summer, the FDIC can establish a bridge bank for the non-bank operations of systemically important firms. Previously it was li

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