<ul><li>Michelle Bowman was sworn in as vice chair for supervision at the Federal Reserve on June 9.</li><li>Bowman aims to relax regulations on smaller financial institutions to address risks in the system and allow banks to fail without destabilizing the banking system.</li><li>She emphasizes the need to streamline de novo bank processes, re-examine regulations for community banks, combat fraud, and encourage innovation in the banking system.</li><li>The focus is on establishing clearer standards, separating smaller banks from larger ones in terms of supervision, and addressing issues such as fraud and embracing innovation in financial services.</li></ul>

Fed Vice Chair Bowman May Seek Regulatory Rollbacks, Benefitting Smaller Banks

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