After the Senate Banking Committee advanced the nomination of Michelle Bowman to be the Federal Reserve’s vice chair for supervision, ICBA urged the full Senate to approve Bowman for the role.
Statement: In a national press release, ICBA President and CEO Rebeca Romero Rainey said the nation’s community bankers have long been strong supporters of Bowman. “Governor Bowman has been a strong proponent of regulations that prioritize safety and soundness, pragmatic oversight that targets stresses in the financial system, and rules that meticulously follow administrative procedures,” she said.
Background: Bowman made history as the first person to hold the Fed’s community banking seat—a position created due to ICBA’s successful push for congressional action requiring community bank representation on the Fed board. She served as a fifth-generation community banker and as Kansas state bank commissioner before filling the community banking slot at the Fed.
ICBA Support:
ICBA enthusiastically endorsed Bowman’s nomination in a letter to the Senate Banking Committee.
In a joint letter to Treasury Secretary Scott Bessent in February, ICBA and its affiliated state banking associations urged the Trump administration to nominate Bowman.
In a previous national news release following her nomination, ICBA said it has long been a strong supporter of Bowman.