Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., said that not adequately funding regulators implementing the Dodd-Frank Act could damage the financial system. "The work they have ahead of them is considerable," Bair told the Senate banking committee. "Without proper funding and, where needed, the confirmation of qualified leadership, the result could be needless uncertainty about the regulatory environment and failure to instill confidence in our financial markets and institutions."

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