MBA Statement on the Nomination of Michelle Bowman as Federal Reserve Vice Chair for Supervision          

MBA’s President and CEO Bob Broeksmit, CMB, released the following statement on President Donald Trump nominating Federal Reserve Board Member Michelle Bowman to be the next Vice Chair for Supervision:  

“Michelle Bowman has a deep understanding of financial markets and monetary policy and has shown a commitment to balanced regulatory oversight throughout her impressive career, including as a member of the Fed Board of Governors since 2018. MBA supports her confirmation by the full Senate as soon as possible. 

Common sense regulation and a safe and sound bank capital framework are required to ensure a robust banking sector that promotes economic growth, creates jobs, and meets the needs of all consumers. We will continue to advocate for regulatory fixes – including reduced risk-weighting for mortgage servicing rights and warehouse lines – that increase banks’ mortgage market participation, and we look forward to engaging with regulators on ways to ensure a strong and well-functioning financial system.”