Elizabeth A. Duke joined the Board of Governors of the Federal Reserve System on August 5, 2008, to fill an unexpired term ending January 31, 2012. She continued to serve on the Board of Governors until August 31, 2013. Duke was on the board of directors of the Federal Reserve Bank of Richmond from 1998 to 2000. She was also the president of the Virginia Bankers Association from 1999 to 2000 and chair of the American Bankers Association from 2004 to 2005. Before her appointment to the Board of Governors, Duke was senior executive vice president and chief operating officer of TowneBank. Before that, she was an executive vice president at Wachovia Bank and an executive vice president at SouthTrust Bank. Earlier in her career, Duke was president and chief executive officer of Bank of Tidewater, based in Virginia Beach. She graduated from the University of North Carolina at Chapel Hill (BA) and from Old Dominion University (MA).