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.
ABA, associations: FHA minimum property requirements hurt access to affordable mortgages
The Federal Housing Administration should align its minimum property requirements with those used by Fannie Mae and Freddie Mac, which would streamline the FHA financing process and make it less expensive for lenders to produce – and consumers...









