Bowman sworn in as Fed vice chair for supervision

Michelle Bowman was sworn in as Federal Reserve vice chair for supervision.

Background: President Donald Trump in March nominated Bowman, who was confirmed by the Senate last week. Prior to that, she was the first person to fill the Fed’s community banking seat, which exists because of ICBA’s successful advocacy for Congress to require community bank representation on the Fed board, and served as a fifth-generation community banker and as Kansas state bank commissioner.

ICBA Support: ICBA last week congratulated Bowman following her Senate confirmation. ICBA and 44 affiliated state banking associations earlier this year sent a joint letter to Treasury Secretary Scott Bessent urging the Trump administration to nominate Bowman for vice chair for supervision, citing her understanding of the unique role of community banks in fostering locally based growth and prosperity.

New Look: ICBA last week applauded Bowman on her remarks outlining a fresh approach to the Fed’s supervision and regulation. Bowman also announced plans for a conference on community bank issues later this year, with an emphasis on listening to community banker input on streamlining regulation and supervision.