According to BlockBeats, on May 6, the U.S. Senate Banking Committee advanced the nomination of Michelle Bowman for the position of Vice Chair for Supervision at the Federal Reserve. Bowman is expected to support looser bank regulations.
She often calls for 'tailored' regulation and criticizes proposals that require banks to increase capital. She also stated that regulators should better coordinate the goals of the financial system. Earlier this year, U.S. Treasury Secretary Basant invited Bowman and other regulators to a closed meeting to simplify regulation.