Fed's Bowman Addresses Community Bank Cyber Risks at Denver Workshop
Federal Reserve Governor Michelle Bowman delivered opening remarks at a community bank cybersecurity workshop in Denver, highlighting cyber risks facing smaller institutions.
Federal Reserve Governor Michelle Bowman delivered pre-recorded opening remarks at the Community Bank Cyber Workshop held in Denver, Colorado, underscoring the central bank's continued focus on cybersecurity vulnerabilities facing smaller financial institutions across the country.
The workshop, convened for community banking professionals, reflects growing regulatory attention to the cyber threat landscape confronting banks that often operate with more limited IT resources than their larger counterparts. Community banks have increasingly become targets for ransomware, phishing, and other digital attacks as financial services infrastructure grows more interconnected.
Read more Fed's Waller Addresses AI Agents' Role in Payments at Sibos →
Bowman's participation via pre-recorded video signals the Federal Reserve's commitment to engaging with community bank stakeholders on operational resilience even when in-person attendance is not possible. Regulators have repeatedly emphasized that cybersecurity preparedness is not solely a large-bank concern but a systemic issue that extends to every tier of the financial system.
The Federal Reserve, alongside other federal banking regulators, has in recent years stepped up guidance, examination procedures, and outreach efforts aimed at helping community institutions identify, assess, and mitigate cyber risks. Events such as the Denver workshop serve as a key channel for translating regulatory expectations into practical tools for smaller banks.
Continue reading at FRB: Speeches for the full text of Governor Bowman's opening remarks.
