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ICBA Statement on FDIC Chairman Sheila Bair’s Historic Term

Washington, D.C. (July 7, 2011)—The Independent Community Bankers of America (ICBA) released this statement today as Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair plans to conclude her historic term as head of the FDIC on July 8.

“ICBA applauds Chairman Bair for her strong and steady leadership of the FDIC during some of the most turbulent financial years in our nation’s history. We appreciate her understanding of the critical issues that community banks faced during the heart of the financial crisis and her ongoing understanding of what community banks need in order to continue to serve their customers and communities for generations to come. Chairman Bair showed great courage leading the FDIC during these tumultuous times. It was her steadfast and steady hand that reassured consumers that their money was safe in the nation’s banks. She supported ICBA’s efforts to rein in too-big-to-fail institutions and the shadow banking industry so they never again have the ability to destabilize our financial system to the brink of collapse. She has worked diligently during her five years as chairman to protect the integrity of the financial system and the FDIC. ICBA commends and salutes Chairman Bair for a job well done. We wish her future success wherever the path may lead.”

For more information, visit www.icba.org.