Trump Nominates Michelle Bowman As Fed Vice Chair For Bank Supervision

Benzinga

According to Yahoo!, Donald Trump nominated Federal Reserve Governor Michelle Bowman as vice chair for supervision. The nomination positions her to lead the central bank’s regulatory oversight with a lighter touch on banking rules. Bowman is a former community banker and vocal critic of stricter regulations. She will replace Michael Barr, who stepped down in February. If confirmed, she will oversee the supervision of major banks and regulatory rulemaking. Bowman has opposed higher capital requirements for large banks and advocated more transparency in Fed stress tests.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Donald Trump nominated Federal Reserve Governor Michelle Bowman as Vice Chair for Supervision,

00:06according to Yahoo. The nomination positions her to lead the central bank's regulatory oversight

00:11with a lighter touch on banking rules. Bowman is a former community banker and vocal critic

00:17of stricter regulations. She will replace Michael Barr, who stepped down in February.

00:22If confirmed, she will oversee the supervision of major banks and regulatory rulemaking.

00:28Bowman has opposed higher capital requirements for larger banks

00:31and advocated for more transparency in Fed stress tests.

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