The Federal Deposit Insurance Corporation (FDIC) today said Chairman Sheila Bair's official departure will be effective July 8.

"Consistent with previous public statements, Chairman Bair has announced her intention to depart the agency following the expiration of her term as Chairman," the agency said in a press statement. "The FDIC will hold a board meeting during the first week of July. This will be Chairman Bair's final board meeting."

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