Former FDIC chair Blair could monitor bank settlement
Ex-Federal Deposit Insurance Corp. Chairwoman Sheila Bair is a top candidate among state officials to ensure that banks comply with any settlement of a nationwide foreclosure probe that is being led by Iowa Attorney General Tom Miller, Bloomberg reported. Bair, who led the federal banking regulator from 2006 until this year, is supported by some states as a third-party monitor of any accord with mortgage servicers. Selection of a monitor is one of the final issues to be worked out between the banks and state and federal officials, Bloomberg said. A Miller spokesman declined to comment on possible monitors.
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