PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday January 10, 2025
January 10, 2025
Subscribe to PH FedACTion: Financial Regulatory Updates
Subscribe to the new PHFintech: Crypto Policy Tracker
Congress
U.S. House of Representatives
Committee on Financial Services
Chairman Hill Announces Vice Chair, Subcommittee Chairs and Other Key Positions of the House Financial Services Committee
January 9, 2025
House Financial Services Committee Chairman French Hill (AR-02) announced the House Financial Services Committee’s Vice Chairman, Subcommittees Chairs, Vice Chair for Communications and Committee Whip for the 119th Congress.
Federal Agencies
Federal Reserve Board
Speech: Reflections on 2024: Monetary Policy, Economic Performance and Lessons for Banking Regulation
January 9, 2025
Federal Reserve Board Governor Michelle W. Bowman gave a speech entitled “Reflections on 2024: Monetary Policy, Economic Performance, and Lessons for Banking Regulation,” at the California Bankers Association 2025 Bank Presidents Seminar, Laguna Beach, California.
Bank Policy Institute
Blog: Silvergate Bank: A Discount Window Success Story
January 9, 2025
The Bank Policy Institute published a blog post entitled “Silvergate Bank: A Discount Window Success Story.”
International
European Banking Authority
The EBA publishes its final Guidelines on the management of ESG risks
January 9, 2025
The European Banking Authority published its final Guidelines on the management of Environmental, Social and Governance (ESG) risks.
Bank of England
Speech: Reading between the lines
January 9, 2025
Bank of England Deputy Governor Sarah Breeden gave a speech entitled “Reading between the lines,” at the University of Edinburgh Business School.
Monthly Decision Maker Panel data - December 2024
January 9, 2025
The Bank of England released the December 2024 Decision Maker Panel survey data.
Financial Conduct Authority
Research Note: A pilot study into bias in natural language processing
January 9, 2025
The Financial Conduct Authority published a research note entitled “A pilot study into bias in natural language processing.”
Administration Changes
Vacancies
U.S. Department of the Treasury – Scott Bessent (nominated November 2024); Janet Yellen (effective January 26, 2021)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
- Vice Chair Phillip N Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision Michael Barr (resignation as Vice Chair for Supervision, effective February 28, 2025)
- Governor Michelle W. Bowman (sworn in November 26, 2018)
- Governor Christopher J. Waller (sworn in December 18, 2020)
- Governor Lisa D. Cook (sworn in September 13, 2022)
- Governor Adriana D. Kugler (sworn in September 13, 2023)
Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)
Federal Reserve Bank of Boston – Susan M. Collins (effective July 1, 2022)
Federal Deposit Insurance Corporation – Martin Gruenberg (resigning effective January 19, 2025)
- Vice Chairman Travis Hill (sworn in January 5, 2023)
- Director Jonathan McKernan (sworn in January 5, 2023)
- Director Michael Hsu (Acting Comptroller of the Currency)
- Director Rohit Chopra (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Michael Hsu (acting Comptroller, effective May 10, 2021)
Securities and Exchange Commission – Paul Atkins (nominated December 2024); Gary Gensler (resigning January 20, 2025)
Commodity Futures Trading Commission – Rostin Behnam (effective December 17, 2021)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Todd M. Harper (effective January 20, 2021)
Small Business Administration – Kelly Loeffler (nominated December 2024); Isabella Casillas Guzman (effective March 16, 2021)
U.S. Department of Housing and Urban Development – Scott Turner (nominated November 2024); Marcia Fudge (resigned March 11, 2024, effective March 22, 2024)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Linda McMahon (nominated November 2024); Dr. Miguel Cardona (effective March 2, 2021)
Financial Crimes Enforcement Network – Andrea Gacki (effective July 13, 2023)
PH Client Alerts
Click here to read more from our Coronavirus series.
Legislation/Legislative Updates
Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.
Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.
Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.
Click here to view the full text of the Consolidated Appropriations Act, 2021, Enacted December 27, 2020.
Click here to view the full text of the American Rescue Plan of 2021, Enacted March 11, 2021.
Click here to view the full text of the PPP Extension Act of 2021, Enacted March 30, 2021.
Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services, and House Committee on Small Business.