Washington, D.C (July 23, 2018)—The Independent Community Bankers of America® (ICBA) today called on Senate leaders to take up the nomination of Michelle “Miki” Bowman for the Federal Reserve Board of Governors. In a recent letter to Senate Majority Leader Mitch McConnell (R-Ky.) and Minority Leader Charles Schumer (D-N.Y.), ICBA noted that Bowman’s nomination for the board’s community banking seat was approved by the Senate Banking Committee on a bipartisan vote.
“ICBA worked hard to secure a statutory requirement of community bank representation on the Fed board, and we fully support Ms. Bowman as uniquely qualified to fill that important role,” ICBA President and CEO Rebeca Romero Rainey said. “In fact, Ms. Bowman’s experience as a community banker and her continued involvement in her family’s cattle and farm operation gives her a firsthand understanding of community banking and the economic importance of agriculture. Her nomination is an opportunity to strengthen, diversify, and enrich the board, and we urge her prompt Senate confirmation.”
Bowman last month was approved by the Senate committee on a bipartisan 18-7 vote. Before that, she was unanimously approved as Kansas state bank commissioner by the state senate in January 2017 and served as vice president of Farmers & Drovers Bank in Council Grove, Kan. She has also worked for former Sen. Bob Dole (R-Kan.), the House Committee on Transportation and Infrastructure, the House Committee on Oversight and Government Reform, the Federal Emergency Management Agency, and the Department of Homeland Security.
Bowman would fill a position on the Fed board designated for someone with experience as a community banker or community bank supervisor. Following repeated ICBA calls to ensure a community bank presence on the Fed board, policymakers mandated the position in 2015.
The Independent Community Bankers of America®, the nation’s voice for nearly 5,700 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit ICBA’s website at www.icba.org.