Reported 2 days ago
President Trump has appointed Michelle Bowman as the Federal Reserve's new vice chair for supervision, signaling a shift towards less stringent banking regulations. This move follows the administration's critique of previous policies established after the 2008 financial crisis, aiming for a more flexible oversight of major U.S. banks. Bowman's stance against heightened capital requirements suggests a potential easing of regulations, which has garnered support from the banking industry. Her appointment, pending Senate confirmation, highlights the administration's intention to closely align banking oversight with its economic objectives.
Source: YAHOO