WASHINGTON — U.S. Senator Jerry Moran (R-Kan.) – member of the Senate Committee on Banking, Housing, and Urban Affairs – today released the following statement after the Senate confirmed Kansan Michelle ‘Miki’ Bowman on a bipartisan 64-34 vote to serve on the Board of Governors of the Federal Reserve System:
“Michelle Bowman will bring a unique and important perspective to the Federal Reserve Board of Governors in Washington, D.C. Her distinguished leadership in the Kansas banking community, her experience as Kansas Bank Commissioner and her small-town Kansas roots will make her an exceptional member of the Board. I look forward to working with Miki on issues that our consumers and community financial institutions face in rural America.”
Prior to the vote on Ms. Bowman’s nomination, Senator Moran spoke on the Senate floor urging his colleagues to confirm Bowman to the Board of Governors.
Click Here to Watch Remarks
Remarks As Delivered:
“Mr. President, tomorrow the Senate will consider Kansan Michelle Bowman to serve on the Federal Reserve Board of Governors for a seat reserved for a community banker or a community bank regulator. To understand her qualifications, we should first look at the position for which she has been nominated.
“The original Federal Reserve Act requires appointments to the Board to include a representative of the agriculture community. When Congress further defined the Fed’s representation, it created a specific seat for someone with a community bank background, having either worked in or supervised a community bank.
“Miki Bowman has done both. Miki’s experience as both a Kansas State Bank Commissioner, and her time at Farmers and Drovers Bank in Council Grove, Kansas, satisfies both of those statutory requirements, and she is even more qualified with her impressive background in public service and the private sector.
“In total, Miki Bowman has served as bank supervisor and regulator for nearly two years, and has been a community banker for seven.
“Miki was nominated on April the 26, 2018 as a member of the Federal Reserve Board of Governors as a Community Bank Representative for the remainder of a 14 year term expiring January 31, 2020.
“If confirmed, she will represent Region Eight, The St. Louis region, Missouri, of the Federal Reserve.
“Miki will also be the first person nominated by the president and confirmed by the Senate to hold the seat specifically reserved for one member with demonstrated primary experience working in or supervising community banks. She would be one of seven members of the board.
“Miki’s early years echo that of many Kansans. She attended the University of Kansas to earn a bachelor’s degree, and then went on to earn a law degree from Washburn University.
“And after graduation, Miki was called to public service where she served in a variety of capacities, including as a staff member of Senator Dole; and Counsel for several House committees; Director of Congressional and Intergovernmental Affairs for FEMA; and a Deputy Assistant Secretary and Policy Advisor at the Department of Homeland Security under Secretary Tom Ridge. Following that, she and her husband moved to London, where Miki consulted on government and public affairs.
“Like many Kansans who love and appreciate our state, Miki made her way back home. She returned to Council Grove to take the helm of a family bank for the next seven years. Far from London and Washington, D.C., Miki felt the need to return to her community to make a good life for her children and to serve her community.
“Once again called to public service, Miki was nominated by Kansas Governor Sam Brownback to serve as the Kansas Bank Commissioner, a position she’s held since February 2017 and still holds to this day.
“Miki’s experience as both Kansas State Bank Commissioner, and her time at Farmers and Drovers Bank in Council Grove, satisfies both statutory requirements with her impressive background in public service and the private sector.
“Community banks are an important part of communities and small cities across the country. They extend credit for homes, and small businesses for farm equipment, while also sponsoring little league baseball teams and the school band.
“In addition, Miki understands the role that relationships play in the approach to business. In rural Kansas and across America, community banks act as economic engines, leveraging relationships with local community members that rely on trust and honesty.
“Miki could tell story after story about the friendships and high levels of trust that she’s built with her customers – it is a different kind of banking, and one that will help make certain that rural America can thrive well into the future.
“I urge my colleagues to vote tomorrow in favor of Miki Bowman to serve on the Federal Reserve Board of Governors so we can bring her experience and unique perspectives to the Federal Reserve Board.
“Mr. President, thank you, and with that, I yield the floor.”
Biography provided by the White House at the time of Ms. Bowman’s nomination:
Ms. Bowman currently serves as the Kansas State Bank Commissioner, a position to which she was the first woman appointed and confirmed by the Kansas State Senate. As Commissioner, she is the chief regulator for State-chartered banks and non-depository lenders. Previously, Ms. Bowman served as an executive at Farmers and Drovers bank. Additionally, she has served on the staff of Senator Bob Dole, as counsel for several U.S. House committees, as Director of Congressional and Intergovernmental Affairs at the Federal Emergency Management Agency, and as Deputy Assistant Secretary and Policy Advisor to Secretary Tom Ridge at the Department of Homeland Security. Ms. Bowman graduated from the University of Kansas and received a J.D. from Washburn University School of Law.