Overview

• The Senate confirmed Michelle Bowman on June 4 as the Fed’s Vice Chair for Supervision following President Trump’s March nomination.
• In her first remarks she argued post-2008 regulations have become overly burdensome and merit thorough review.
• She announced upcoming initiatives to revise supervision of large lenders and streamline the bank merger approval process.
• Bowman advocated shifting focus from preventing every bank failure to ensuring institutions are ‘safe to fail’ without threatening systemwide stability.
• Her agenda reflects the administration’s deregulatory push and has drawn backing from industry groups and criticism from consumer advocates.