Sheila Bair, who chaired the Federal Deposit Insurance Corp. during the financial crisis, has joined Fannie Mae’s board of directors, the U.S. mortgage financing agency announced. So reports Reuters.
Bair brings her varied banking and financial services experience to the board’s compensation, nominating-governance and risk policy committees, according to a press release.
As MarketWatch recaps, Bair became head of the FDIC in 2006 and started pushing right away for regulation of the mortgage market. She was rebuked by the Federal Reserve in what the Financial Crisis Commission inquiry would deem “a pivotal failure.”