Washington, D.C. (March 17, 2025)—The Independent Community Bankers of America (ICBA) today expressed its strong support for President Donald Trump’s nomination of Federal Reserve Governor Michelle Bowman for vice chair for supervision at the Fed—as advocated by ICBA.
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. In a recent joint letter to Treasury Secretary Scott Bessent, ICBA and 44 affiliated state banking associations urged 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 has long been a strong supporter of Governor Michelle Bowman and congratulates her on her nomination to serve as vice chair for supervision at the Fed,” ICBA President and CEO Rebeca Romero Rainey said. “Governor Bowman has championed regulations that prioritize safety and soundness, pragmatic oversight that ensures proposed reforms clearly target stresses in the financial system, and rules that meticulously follow administrative procedures to maximize transparency and avoid confusion that can hinder access to credit. 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 served as a fifth-generation community banker and as Kansas state bank commissioner before filling the community banking slot at the Federal Reserve Board that had long been vacant at the time of her appointment during the first Trump administration.
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.
About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.
As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.
