MBA ALUMNA NOMINATED BY PRESIDENT BUSH TO FEDERAL RESERVE BOARD

Old Dominion University alumna Elizabeth A. Duke was nominated Tuesday (May 15) to sit on the Federal Reserve Board by President George W. Bush.

Duke, who received an MBA from Old Dominion in 1983, was one of two nominees announced by Bush to fill vacant seats on the seven-member board. The Federal Reserve determines the course of interest rates in the country and is also responsible for ensuring the stability of the nation's financial system.

Duke is senior executive vice president and chief operating officer of TowneBank. She received a bachelor's degree from the University of North Carolina and is also a graduate and former instructor of the Stonier Graduate School of Banking.