Leveraging her “hands-on experience” as a banker, state bank regulator and a Federal Reserve Board member “to address the challenges ahead” is the pledge of Michelle W. Bowman if she wins confirmation as vice chair for supervision at the agency, she said late Monday.
Bowman, now a member of the Fed Board, issued a statement Monday thanking President Donald Trump (R) for nominating her to succeed Michael Barr as top supervisor for the central bank. “I would like to express my thanks to President Trump for nominating me as the Vice Chair for Supervision,” Bowman said in the statement. “I am grateful for the continued faith and confidence he has placed in me to fulfill this vital role.”
However, no statement of nomination (or intent to nominate) yet appears on the White House website.
Also in her statement, however, Bowman pledged to “promote a safe and sound banking system through a pragmatic approach to supervision and regulation with a transparent and tailored bank regulatory framework that encourages innovation.”
Bowman became a member of the Fed Board in 2018, serving as the community bank representative on the board. She is a former Kansas State Bank Commissioner, reportedly the first woman appointed to that post. A former banker, she has also served previously on Capitol Hill, at the Federal Emergency Management Agency and Department of Homeland Security.
Her current term on the board runs to January 2034.
While on the Fed Board, Bowman has been a frequent critic of efforts to rein in banking powers and impose stricter capital requirements. She scorned climate change regulations and new proposed bank capital rules, as well as proposals on bank merger and acquisition (M&A).
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