Overview

• Michelle Bowman was approved on June 4 by a 48-46 Senate vote split along party lines.
• She has served on the Fed’s Board of Governors since 2018, led Kansas’s banking regulator and last year dissented on an interest-rate cut.
• Bowman plans to reform and refocus supervision by retooling Basel III capital rules and tailoring oversight to promote innovation.
• Banking and industry groups welcomed her confirmation for promising streamlined regulation and stronger engagement with lenders.
• Consumer advocates and some Democrats warned her deregulatory agenda could weaken safeguards for Main Street customers.