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Ex-FDIC Chairman Bair Is Named to Lead Washington College

The Honorable Sheila C. Bair

(Bloomberg Business) – Sheila Bair, who became a vocal advocate for tougher bank regulation when she led the U.S. Federal Deposit Insurance Corp., will become president of a liberal arts college across the Chesapeake Bay from Baltimore.

Bair, 61, will start at Washington College on Aug. 1, according to a statement from the Chestertown, Maryland-based school. Bair, who was chairman of the FDIC from 2006 to 2011, has since taken roles as a senior adviser to the Pew Charitable Trusts and law firm DLA Piper.

Bair, who sometimes clashed with the Treasury Department over the government’s treatment of the country’s biggest banks during the financial crisis, has pushed for new rules to force lenders to add capital and curb risk-taking. Some of her ideas made it into the 2010 Dodd-Frank Act that regulates the financial system. She also leads the Systemic Risk Council, a public interest group of former government officials and financial experts who monitor financial reform implementation.

“I’ll still be writing columns and making speeches on financial reform; that’s still important to me,” Bair said in an interview. “And there’s still more work to be done on bank regulation, so I’m far from done speaking about it.”

She’s in discussions with Pew and the risk council on how her connections with them will be shaped going forward, Bair said. Those should become clear in a matter of weeks, she added.

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