ICBA 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.
ICBA-Supported Nomination: In a recent joint letter to Treasury Secretary Scott Bessent, ICBA and 44 affiliated state banking associations urged the Trump administration to nominate 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 Statement: “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 in a national news release.
Background: 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. She served as a fifth-generation community banker and as Kansas state bank commissioner before filling the community banking slot at the Fed.
Outlook: ICBA said it 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.
