Senate Majority Leader John Thune (R-S.D.) moved to bring to a vote the nomination of Michelle Bowman to be the Federal Reserve’s vice chair for supervision.
Details: In filing cloture on the nomination, Thune moved to limit debate and proceed to a vote in the coming days.
ICBA View: After the Senate Banking Committee advanced Bowman’s nomination last month, ICBA urged the full Senate to approve Bowman for the role. In a national news release, ICBA President and CEO Rebeca Romero Rainey said the nation’s community bankers have long been strong supporters of Bowman.
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 with its affiliated state banking associations, and in a news release following her nomination.
