Federal Reserve Governor Michelle Bowman formally began her term as the third Fed vice chair for supervision today. Fed Chairman Jerome Powell swore her in to a four-year term ending in 2029. A former state bank supervisor and community bank executive, Bowman has been a Fed governor since 2018, appointed to fill the seat designated for an individual with community banking experience. Committed to representing community banks’ voice at the Fed, she has spoken at every ABA Conference for Community Bankers since her arrival at the Fed.
FDIC updates IDI resolution planning for large banks
The FDIC announced proposed changes to insured depository institution resolution planning requirements, or IDI rule. The rule, including the expected proposed changes, applies to FDIC-insured depository institutions with $50 billion or more in total assets.










