Posted at 3:50 p.m., Tuesday, June 12, 2001

FDIC chair Donna Tanoue stepping down

Advertiser Staff

Donna Tanoue, chairwoman of the Federal Deposit Insurance Corp., will step down from the post July 11, the agency said.

President Bush nominated Texas banker and political supporter Donald E. Powell to replace Tanoue atop the federal regulatory agency that oversees nearly 5,700 U.S. banks.

Tanoue, of Honolulu, was selected by Bill Clinton during his presidency for the post that has traditionally been a political appointment.