The Federal Deposit Insurance Corporation (FDIC) Chairwoman, Sheila Bair, will step down from her role, effective July 8, The Wall Street Journal reports. Bair intends to serve on the boards of nonfinancial companies.
She was appointed as the FDIC chairwoman in 2006. Martin Gruenberg, the FDIC’s vice chairman, is expected to succeed her, although he will need to be confirmed by the Senate.
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