ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Community Banking

Fed Nominees Support Reg Reform, Maintaining Safety and Soundness

May 15, 2018
Reading Time: 2 mins read

In testimony before the Senate Banking Committee today, Federal Reserve nominee Michelle Bowman highlighted the critical role that community banks play in growing the economy, and offered support for more closely tailored regulation for these institutions. Bowman — who has been tapped to fill a seat on the board reserved for a community banker — provided insights from her career as a former bank executive at Farmers & Drovers Bank in Council Grove, Kan., and her current role as Kansas state bank commissioner.

“At the state level, I oversee banks that range in size from $7 million in assets with three employees to $3.2 billion in assets. All of those qualify by the federal standard as community banks,” Bowman said. “It’s important to be able to understand the burden on a staff of three to implement the same regulations that apply to much larger institutions.”

In addition to regulatory relief for community banks, both Bowman and Fed vice chairman nominee Richard Clarida also expressed their openness to the modernization of the Community Reinvestment Act, as well as their support for the normalization of the Fed’s balance sheet. They also offered support for preserving the government guarantee on 30-year fixed-rate mortgages.

With regard to capital and liquidity requirements for the nation’s largest banks, Clarida assured lawmakers that he would not sacrifice gains in safety and soundness in any effort to simplify or loosen these requirements. “If I am confirmed, my priority will be to support policies that are effective, efficient, and appropriately tailored and that preserve the far greater resiliency and stability of the financial system that has been achieved as a result of the significant reforms that have been put in place since the financial crisis,” he said.

ADVERTISEMENT
Tags: Dodd-FrankFederal ReserveRegulatory burdenRegulatory capitalSIFIsTailored regulation
ShareTweetPin

Author

Monica C. Meinert

Monica C. Meinert

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for executive communications at the American Bankers Association.

Related Posts

CFPB launches ‘tip line’ to report on bureau employees

ABA, associations urge CFPB to rescind changes to adjudication process

Legal
June 13, 2025

ABA joined three associations in voicing support for a CFPB proposal to rescind a set of changes to the bureau’s rules that, among other things, gave its director authority to resolve adjudication hearings overseen by the agency.

Bank economists grow more optimistic about business credit, soft landing

ABA DataBank: May inflation cooler than expected, but still above Fed’s 2% target

Economy
June 13, 2025

With many economists expecting inflation to spike following the implementation of reciprocal tariffs, the headline Consumer Price Index rose 2.4% year-over-year in May — right in line with consensus expectations.

Consumer Sentiment declined in April

Consumer sentiment rebounds in June

Economy
June 13, 2025

The University of Michigan Consumer Sentiment Index increased 15.9% in June compared to the month prior, landing at 60.5, according to preliminary results for the month.

Survey: Banks boosting cybersecurity due to AI while also investing in technology

Survey: Banks boosting cybersecurity due to AI while also investing in technology

Cybersecurity
June 13, 2025

Most U.S. banks are increasing their cybersecurity efforts because of emerging technologies such as generative artificial intelligence, and many of those same banks also list AI as a top business investment, according to a recent survey by auditing...

Senate bill would mandate discount window testing, modernization

Proposal to end Fed interest payments to banks faces pushback

Newsbytes
June 13, 2025

Senate Banking Committee Chairman Tim Scott (R-S.C.) said a proposal to prevent the Federal Reserve from paying interest to banks “is not a decision to be rushed” and must follow proper parliamentary procedure, Bloomberg Law reported.

Research roundup: ABA holds policymakers accountable with independent analyses of key banking issues

Senate passes ABA-advocated ‘trigger leads’ bill

Mortgage
June 13, 2025

The Senate granted unanimous consent to S. 1467, an ABA-advocated bill that would would prevent credit reporting agencies from selling so-called mortgage trigger leads to lenders in most circumstances.

NEWSBYTES

ABA, associations urge CFPB to rescind changes to adjudication process

June 13, 2025

ABA DataBank: May inflation cooler than expected, but still above Fed’s 2% target

June 13, 2025

Consumer sentiment rebounds in June

June 13, 2025

SPONSORED CONTENT

AI Compliance and Regulation: What Financial Institutions Need to Know

Unlocking Deposit Growth: How Financial Institutions Can Activate Data for Precision Cross-Sell

June 1, 2025
Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025
Six Payments Trends Driving the Future of Transactions

Six Payments Trends Driving the Future of Transactions

March 15, 2025

PODCASTS

Podcast: Old National’s Jim Ryan on the things that really matter

June 12, 2025

Podcast: What bankers need to know about ‘First Amendment audits’

June 5, 2025

Podcast: Accelerating banking for quick-service restaurants

May 8, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.