On March 17, U.S. President Donald Trump announced the nomination of Federal Reserve Governor Michelle Bowman to serve as vice chair for supervision, a role which aims to oversee the Fed’s regulatory responsibilities for major banks.

If confirmed, Bowman would oversee significant bank regulatory duties, likely adopting a more lenient approach than her predecessor, Michael Barr, whose resignation has opened up this critical position.

Having served on the Fed board since 2018, Bowman has a strong foundation in community banking. Her critical stance on stringent regulations suggests her tenure may mark a shift in how the Fed interacts with major financial institutions.