ODU Alumna Appointed to Federal Reserve Board

Old Dominion University alumna Elizabeth A. Duke was confirmed June 27 by the U.S. Senate to sit on the Federal Reserve Board. 

Duke, who received an MBA from Old Dominion in 1983, was nominated by President George W. Bush last year to fill a vacant seat 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.

In a press release announcing the appointment, Senate Majority Leader Harry Reid said, "In confirming Elizabeth A. Duke for a term through 2012, we are ensuring the Fed can function during these difficult economic times."

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.