FDIC Chair Sheila Bair to Step Down in July

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

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)