U.S. Senate Committee on Banking, Housing and Urban Affairs urges swift consideration of nominees including Michelle Bowman for Federal Reserve Vice Chair for Supervision

The U.S. Senate Committee on Banking, Housing and Urban Affairs published Chairman Tim Scott’s opening remarks from a nominations hearing, calling for swift consideration of six nominees for senior roles in the Trump administration and at federal financial regulators. The slate includes Michelle Bowman as Vice Chairman for Supervision at the Board of Governors of the Federal Reserve System and John Hurley as Under Secretary for Terrorism and Financial Crimes at the Department of the Treasury. Scott also highlighted nominations for Andrew Hughes as Deputy Secretary and David Woll as General Counsel at the Department of Housing and Urban Development, as well as David Fogel as Assistant Secretary of Commerce for Global Markets and Director General of the United States and Foreign Commercial Service and Landon Heid as Assistant Secretary of Commerce for Export Administration. In his remarks, he framed the Federal Reserve supervision role as centered on accountability and transparency in bank supervision and described the Treasury terrorism and financial crimes role as covering anti-money laundering and counter-terrorist financing priorities and the enforcement of economic sanctions. He urged committee colleagues to advance the nominations so the nominees can move to confirmation consideration.