Fed's Bowman Addresses Community Bank Cyber Risks at Denver Workshop

Federal Reserve Governor Michelle Bowman delivered opening remarks via pre-recorded video at the Community Bank Cyber Workshop held in Denver, Colorado, signaling the central bank's continued focus on digital security threats confronting smaller financial institutions.

Community banks occupy a critical position in the U.S. financial system, serving local businesses and consumers in markets that larger institutions often overlook. Their growing reliance on digital infrastructure, however, exposes them to the same spectrum of cyber threats that challenge major financial players, often with fewer dedicated resources to mount a defense.

Read more SEC Chair Atkins Backs Expanding Retail Access to Private Markets →

The Fed's engagement with community bank cybersecurity reflects broader regulatory attention to systemic vulnerabilities that can propagate through interconnected financial networks. A successful cyberattack on even a small institution can have outsized consequences for local economies and erode consumer confidence in the banking system at large.

Bowman's participation, though delivered remotely, underscores the Federal Reserve's commitment to outreach and education as key pillars of its supervisory approach. Workshops of this nature bring together bank examiners, industry practitioners, and policymakers to share threat intelligence and best practices in an environment of rapidly evolving risk.

Continue reading at FRB: Speeches.