“The American Fintech Council welcomes Michelle Bowman's nomination to serve as Vice Chair for Supervision at the Federal Reserve. Throughout her tenure on the Board of Governors, Governor Bowman has been a friend to AFC and shown a steadfast commitment to a clear and balanced regulatory framework that ensures stability while allowing for responsible innovation. Her perspective as Vice Chair for Supervision will be invaluable in ensuring we continue to build a financial system that delivers valuable new products and services for consumers while maintaining the integrity of our financial system.

“Governor Bowman has played a key leadership role at the Fed over the past several years, in which she has demonstrated a clear and concerted effort to proactively engage with the innovative products, services, and business models that AFC and its members support. Her deep understanding of bank-fintech partnerships, as well as her leadership in the Fed’s initiatives to encourage responsible innovation and tailor regulation appropriately, underscore her commitment to modernizing regulatory oversight in a way that encourages financial institutions to evolve while maintaining strong standards for stability.

"We look forward to working further with Governor Bowman to ensure that the supervisory framework for fintech innovation is clear, risk-based, and aligned with consumer and market realities. As financial technology continues to play a growing role in expanding access to credit, payments, and financial services, it is essential that the Federal Reserve’s approach supports both stability and innovation."

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