Sheila Bair’s departure last year as head of the Federal Deposit Insurance Corp. does not mean all of Kansas’ connection to the headquarters of the powerful bank regulator are completely severed.
On Thursday the Senate approved the nomination of Thomas Hoenig to the FDIC’s board of directors. Hoenig also awaits Senate confirmation as vice chairman of the regulator that administers the deposit insurance fund.
Hoenig was president of the Federal Reserve Bank of Kansas City for 20 years and retired last October. The Iowa-born economist was a frequent visitor to Wichita during his tenure.
Bair, who was raised in Independence and attended the University of Kansas, was chairman of the FDIC during one of the industry’s most turbulent periods, the 2008 financial crisis.