News Release

CHICAGO — Two promotions have been announced in the Federal Reserve Bank of Chicago's Supervision and Regulation (S&R) Department.

Paula Armstrong New Assistant Vice President

Armstrong, 45, is the new assistant vice president of the department's regional group. She most recently served as a senior team leader, Large Bank Supervision, in S&R.

Armstrong graduated from St. Edward's University in Austin, Texas with a degree in Finance and earned an MBA from Lake Forest Graduate School of Management. She lives in Gurnee, Illinois.

Rebecca Chmielewski New Assistant Vice President

Chmielewski, 44, is the new assistant vice president, Operations Risk, Policy, Fiduciary, and Bank Secrecy Act (BSA). She most recently served as a risk consultant in S&R. Chmielewski graduated from Loyola University of Chicago with a degree in Finance and earned an MBA from the University of Chicago Booth School of Business. She lives in Mount Prospect, Illinois.

Federal Reserve Bank of Chicago Background

The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank. The Chicago Reserve Bank serves the seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and all of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.