According to Yahoo!, Donald Trump nominated Federal Reserve Governor Michelle Bowman as vice chair for supervision. The nomination positions her to lead the central bank’s regulatory oversight with a lighter touch on banking rules. Bowman is a former community banker and vocal critic of stricter regulations. She will replace Michael Barr, who stepped down in February. If confirmed, she will oversee the supervision of major banks and regulatory rulemaking. Bowman has opposed higher capital requirements for large banks and advocated more transparency in Fed stress tests.
