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Better Markets Welcomes Newly Confirmed Community Bank Seat at the Fed

FOR IMMEDIATE RELEASE
Thursday, November 15, 2018
Contact: Nick Jacobs, 202-618-6430 or njacobs@bettermarkets.com

 

BETTER MARKETS WELCOMES MICHELLE BOWMAN TO THE CRUCIAL COMMUNITY BANK SEAT ON FEDERAL RESERVE BOARD

 

Washington, D.C. – Better Markets President and CEO, Dennis Kelleher, issued the following statement following the Senate confirmation of Kansas State Banking Commissioner Michelle Bowman for a seat on the Federal Reserve Board:

 

“As a 5th generation community banker from Kansas, Michelle Bowman knows the critical role community banks play in supporting the real economy and will no doubt bring that perspective to the Federal Reserve Board.  Whether it is a mortgage, small business, education or personal loan, community banks provide the fuel that keeps the engine of the real economy going and helps their neighbors achieve the American Dream.

“That’s why it’s so important for a community banker to be on the Federal Reserve Board.  While the biggest banks merit sustained and rigorous supervisory and regulatory attention, that shouldn’t come at the expense of the experience and knowledge of community banks, which now finally have a seat at the table.  We wish Ms. Bowman well and know that the decisions of the Federal Reserve will be more informed and more representative of our diverse financial system.  That should help to ensure that the Fed focuses on promoting broad-based growth as well as economic security, opportunity and prosperity for all Americans.”

 

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.

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