03/12/25

The Trump administration today announced they plan to fill the vacant Federal Reserve vice chair for supervision role with current Fed Governor Michelle Bowman. The announcement is a significant positive regulatory development as Governor Bowman not only is the only member of the Fed with supervision experience but also a former community banker. In her time on the Federal Reserve has stood in the breach as a voice of reason and common-sense, recognizing the criticality of strong prudential oversight while also understanding the necessity for supervisory balance and right-sizing of regulation for banks playing different roles in the economy. Further, as a former community banker currently serving on the Federal Open Market Committee (FOMC), she understands the operational impacts that rate changes will have across the entire banking system and on local economies as well as the greater American economy. In January, the OBL wrote to Treasury Secretary Bessent asking him to appoint Governor Bowman to this role and believe this is a significant victory for the banking industry.