Key facts
- Senator Elizabeth Warren requested the Federal Reserve's inspector general to review Fed Vice Chair Michelle Bowman's participation in a Bank of America client dinner.
- Warren alleges Bowman may have breached the central bank's rules by delivering remarks at the private dinner.
- This request follows previous inquiries by Warren and other Democrats into Bowman's conduct regarding bank supervision and the Silicon Valley Bank failure.
- Warren expressed concerns that actions by Bowman could compromise the banking system's safety and lead to negative economic consequences for American families.
U.S. Senator Elizabeth Warren has called on the Federal Reserve's inspector general to investigate whether Fed Vice Chair for Supervision Michelle Bowman violated the central bank's rules by speaking at a private Bank of America client dinner last month. The Wall Street Journal reported on the incident. Warren, a leading Democrat on the Senate Banking Committee, expressed concerns that such actions could compromise the safety and soundness of the banking system and potentially harm American families.
This latest request follows previous scrutiny of Bowman's leadership. In February 2026, Warren and other Senate Banking Committee Democrats sent a letter to Bowman questioning reports that she may have applied pressure or removed Federal Reserve bank examiners after receiving complaints from bank executives. They argued that removing examiners at the request of banks would be inappropriate and create a chilling effect on the workforce, potentially leading to economic consequences for taxpayers.
Additionally, Warren, along with Senators Bernie Sanders and Richard Blumenthal, questioned Bowman about reports of her hiring an external consulting firm to conduct a new review of the 2023 Silicon Valley Bank failure, three years after the Fed's own review. The senators expressed concern that this new review might serve to shift blame away from decisions made during the Trump administration that weakened bank oversight.
In a separate op-ed for The Wall Street Journal in August 2025, Warren addressed President Donald Trump's criticisms of the Federal Reserve's independence. She argued that while the Fed needs more transparency and accountability, threats to fire Fed officials are dangerous and that meaningful reform, rather than intimidation, is necessary. She highlighted concerns about the Fed favoring Wall Street and noted numerous ethics scandals involving Fed officials.