The Independent Community Bankers of America (ICBA) congratulated Federal Reserve Governor Michelle Bowman on today’s Senate vote confirming her ICBA-advocated nomination to serve as Fed vice chair for supervision.
“ICBA and the nation’s community bankers congratulate Governor Bowman for her confirmation as Fed vice chair for supervision,” ICBA President and CEO Rebeca Romero Rainey said. “As 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, Governor Bowman will be an asset in leading the Fed’s banking oversight. We look forward to continuing to work closely with Governor Bowman on important regulatory issues affecting community banks and the local communities they serve.”
Governor Bowman made history as 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. Before that, she served as a fifth-generation community banker and as Kansas state bank commissioner.
Given her experience and perspective, 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 Governor Bowman for vice chair for supervision at the Fed, citing her understanding of the unique role of community banks in fostering locally based growth and prosperity.
ICBA looks forward to continuing to work with the Trump administration and the 119th Congress to advance pro-community bank reforms outlined in its “Repair, Reform, and Thrive” plan.