The American Fintech Council (AFC) has expressed its congratulations to Michelle Bowman on her confirmation as Vice Chair for Supervision at the Federal Reserve. Phil Goldfeder, CEO of the AFC, issued a statement recognizing Bowman's approach to supervision during her tenure as Governor. "The American Fintech Council congratulates Michelle Bowman on her confirmation as Vice Chair for Supervision at the Federal Reserve. Throughout her tenure, Governor Bowman has championed a thoughtful, transparent, and pragmatic approach to supervision—qualities that will serve the Fed and the financial system well in this new role."
Goldfeder noted Bowman's commitment to working with AFC members and understanding responsible innovation in financial services. He added, "We are confident that Vice Chair Bowman will continue working to modernize oversight, encourage responsible innovation, and support a regulatory environment that reflects the evolving nature of consumer financial services."
The AFC anticipates ongoing collaboration with Bowman and the Federal Reserve to establish a supervisory framework suitable for today's diverse financial landscape. "AFC looks forward to continued engagement with Vice Chair Bowman and the Federal Reserve to help create a clear, risk-based supervisory framework that meets the needs of today’s diverse financial ecosystem," Goldfeder stated.