PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, April 18, 2025
April 18, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
Federal Reserve Board
FRB Issues Notice of Proposed Rulemaking on Stress Tests and Capital Buffer Requirements
The Federal Reserve Board (FRB) is seeking comment on a proposal to reduce the volatility of the capital requirements stemming from the board's annual stress test results.
Federal Agencies
Federal Reserve Board
Speech: Deepfakes and the AI Arms Race in Bank Cybersecurity
April 17, 2025
Federal Reserve Board Governor Michael S. Barr gave a speech entitled, “Deepfakes and the AI Arms Race in Bank Cybersecurity.”
Federal Reserve Bank of Boston
Article: Gen AI is Ramping Up the Threat of Synthetic Identity Fraud
April 17, 2025
The Federal Reserve Bank of Boston published an article entitled, “Gen AI is ramping up the threat of synthetic identity fraud.”
Conference of State Bank Supervisors
Blog: SES Introduces New Capabilities for State Agencies, Focus on Money Services Businesses Exams
April 16, 2025
The Conference of State Bank Supervisors published a blog post entitled, “SES Introduces New Capabilities for State Agencies, Focus on Money Services Businesses Exams.”
Securities and Exchange Commission
SEC Small Business Advisory Committee to Explore Regulation A
April 17, 2025
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee announced that its meeting on Tuesday, May 6, 2025, will focus on the practical market considerations and regulatory challenges of Regulation A.
Fannie Mae
Home Price Growth Remains Steady in First Quarter
April 17, 2025
Single-family home prices increased 5.2 percent from Q1 2024 to Q1 2025, largely unchanged from the previous quarter's year-over-year growth pace of 5.3 percent, according to the latest reading of the Fannie Mae Home Price Index (FNM-HPI).
Bank Policy Institute
BPI Supports Reauthorization of Cyber Threat Information Sharing Law
April 16, 2025
Bank Policy Institute Senior Vice President Heather Hogsett issued a statement in support of legislation to reauthorize the Cybersecurity Information Sharing Act (CISA 2015).
International
Bank of England
Bank Liabilities Survey – 2025 Q1
April 17, 2025
The Bank of England released the Q1 2025 results of the Bank Liabilities Survey.
Credit Conditions Survey – 2025 Q1
April 17, 2025
The Bank of England released the Q1 2025 results of the Credit Conditions Survey.
Bank of England Prudential Regulation Authority
Update on modification by consent of the Liquidity Coverage Ratio part of the PRA Rulebook – Third Country Covered Bonds
April 17, 2025
The Prudential Regulation Authority (PRA) has decided to pause a modification by consent that would allow certain third country covered bonds under Article 11(1)(d) of the Liquidity Coverage Ratio (CRR) part of the PRA Rulebook to be included in Level 2A High Quality Liquid Assets (HQLA), following receipt of a number of technical comments and requests for clarification.
Financial Conduct Authority
Primary Market Bulletin 55
April 17, 2025
The Financial Conduct Authority released the Primary Market Bulletin 55.
Administration Changes
Vacancies
Appointments
U.S. Department of the Treasury – Scott Bessent (effective January 27, 2025)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
- Vice Chair Phillip N Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision Michelle Bowman (nominated March 17, 2025)
- Governor Michael Barr (sworn in July 19, 2022)
- 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 – Travis Hill (Acting Chairman effective January 20, 2025)
- Vice Chairman Vacant
- Director Vacant
- Director Rodney Hood (Acting Comptroller of the Currency)
- Director Russel Vought (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Jonathan Gould (nominated February 11, 2025); Rodney E. Hood (Acting Comptroller effective February 10, 2025)
Securities and Exchange Commission – Paul Atkins (effective April 9, 2025)
Commodity Futures Trading Commission – Brian Quintenz (nominated February 11, 2025); Caroline D. Pham (Acting Chairman effective January 20, 2025)
Consumer Financial Protection Bureau – Jonathan McKernan (nominated February 11, 2025); Russel Vought (Acting Director effective February 10, 2025)
National Credit Union Administration – Kyle Hauptman (Chairman effective January 20, 2025)
Small Business Administration – Kelly Loeffler (effective February 19, 2025)
U.S. Department of Housing and Urban Development – Scott Turner (effective February 5, 2025)
Federal Housing Finance Agency – William Pulte (effective March 13, 2025)
U.S. Department of Education – Linda McMahon (effective March 3, 2025)
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 theConsolidated 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
Contributors
