FDIC Nominee to Follow Lawmakers' Intent on Reforms

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00012086-fdic-nominee-to-follow-lawmakers-intent-o/

No trend setter Sheila Bair. Fans of the tried and true, straight and narrow have a hero in the new helmsman at the Federal Deposit Insurance Corp. According to a Reuters story today, Ms. Bair will follow legislative intent when implementing recent legislative reforms for banks and savings associates.

?We need to closely follow legislative intent,” Bair said at a Senate Banking Committee hearing on her nomination to be FDIC chairman when asked about the new regulatory powers included in the new law. “We will do so going forward.”

You can read the full story at FDIC nominee to follow lawmakers’ intent on reforms.