[Bowman Plans to Cut 30% of Federal Reserve Bank Supervision Staff Within Three Years] Federal Reserve Vice Chair for Supervision Bowman announced during an internal meeting on Thursday that the bank supervision and regulation department will undergo restructuring, aiming to reduce staff from approximately 500 to around 350 by the end of 2026, a 30% decrease. The layoffs will be achieved through natural attrition, retirements, and voluntary departures. This restructuring aligns with Bowman’s push to ease bank capital requirements and the Federal Reserve’s broader plan to reduce its workforce by 10% across the system in the coming years, consistent with the Trump administration’s direction to scale back U.S. financial regulatory agencies. Bowman emphasized that the supervision department should focus on substantive risks to banking institutions and avoid entanglement in procedural matters.