The Federal Reserve Board published welcoming remarks by Vice Chair for Supervision Michelle W. Bowman for its second annual Financial Inclusion Conference, outlining how the Federal Reserve will support efforts to broaden access to financial services. Bowman linked financial inclusion to innovation in financial products and delivery channels, and positioned the Federal Reserve’s research, community engagement, and regulatory approach as key tools for understanding inclusion outcomes and how banks provide affordable services consistent with safety and soundness. Bowman pointed to banks’ use of alternative data as one example of innovation that can expand access, including by enabling affordable small-dollar lending and reaching “credit invisibles.” She also referenced a recent interagency request for information on check and payments fraud, describing it as a response to a growing problem affecting banks and customers, and noted plans to work with state and federal partners, including law enforcement. The conference agenda highlighted sessions on evolving products and practices, mission-driven organizations, and cross-border payment innovations.
Federal Reserve Board 2025-07-15
Federal Reserve Board Vice Chair Bowman frames supervisory priorities for technology-driven financial inclusion at its Financial Inclusion Conference
Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman spoke at the Financial Inclusion Conference, emphasizing innovation's role in expanding financial access. She highlighted banks' use of alternative data to reach underserved populations and addressed a recent interagency request on check and payments fraud. The agenda included discussions on evolving financial products, mission-driven organizations, and cross-border payment innovations.