Fed’s Bowman Urges More Tailored Regulation for Community Banks

Federal Reserve Governor Michelle Bowman called for a better regulatory fit for community banks based on their size and business scope, saying they do not need the same rules as larger institutions.

“The regulatory approach is much more complex than necessary to address many small bank issues,” Bowman said in prepared remarks for an event in Hays, Kansas. “A community bank can operate safely and soundly, and in compliance with laws, without being subject to the same extensive guidance and regulatory requirements as larger, more complex banks.”