FDIC Chair Sheila Bair to Step Down in July

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Federal Deposit Insurance Corp Chairman Sheila Bair will leave the agency effective July 8, the FDIC announced on Monday.

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Bair began her five-year term as chairman in June 2006.

The FDIC will hold a board meeting the first week of July, which will be Bair's last meeting at the agency.

(Reporting by Dave Clarke, Editing by Phil Berlowitz)