Sheila Bair, head of the Federal Deposit Insurance Corporation, received two home loans worth more than $1 million from Bank of America last summer while helping oversee the bank’s federal bailout, raising questions of conflict of interest. The discovery was made by the Huffington Post Investigative Fund, whose story seemed to prompt Bair to ask retroactively for an ethics rule exemption from the FDIC; she was granted the waiver just last week. FDIC rule prohibits employees from participating in “any particular matter” involving banks that they borrow from.