Chairman Of FDIC Stepping Down

Sheila Bair is stepping down as chairman of the Federal Deposit Insurance Corporation. The FDIC says Bair will end her five year term as one of the government's top bank regulators on July 8th. Bair was among the first officials to raise concerns about the explosion in high-risk lending to borrowers with bad credit. Under her tenure, the agency closed 365 banks since the crisis began.