PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, May 30, 2025
May 30, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Statement on Chair Powell's Meeting With the President
May 29, 2025
The Federal Reserve Board released a statement following Chair Jerome Powell’s meeting with President Trump.
Opening Remarks at the 2025 Federal Reserve Board Macro-Finance Workshop
May 29, 2025
Federal Reserve Board Governor Adriana D. Kugler gave opening remarks at the 2025 Federal Reserve Board Macro-Finance Workshop in Washington, D.C.
Working Paper: A Look Back at "Look Through"
May 29, 2025
The Federal Reserve Board published a working paper entitled, “A Look Back at ‘Look Through’.”
Federal Reserve Bank of New York
New York Fed to Update Publication Timing for Multivariate Core Trend Inflation
May 29, 2025
Starting on Monday, June 2, the Federal Reserve Bank of New York will begin publishing the Multivariate Core Trend (MCT) model at or shortly after 10:00 AM ET on the first business day of the month following the release of personal consumption expenditures (PCE) price index data from the Bureau of Economic Analysis.
Blog: How Uncertain Is the Estimated Probability of a Future Recession?
May 29, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, “How Uncertain Is the Estimated Probability of a Future Recession?”
Conference of State Bank Supervisors
Acting Comptroller of the Currency Discusses Financial Literacy Education
May 29, 2025
Acting Comptroller of the Currency Rodney E. Hood discussed the importance of financial literacy education in remarks at the Financial Literacy and Education Commission.
Commodity Futures Trading Commission
Keynote Remarks: Exploring AI Risks and Opportunities Across the Digital and Cyber Landscape
May 29, 2025
Commodity Futures Trading Commission Commissioner Kristin Johnson gave keynote remarks entitled, “Exploring AI Risks and Opportunities Across the Digital and Cyber Landscape,” at the Federal Reserve Bank of Dallas.
U.S. Small Business Administration
OIG Report: COVID-19 Economic Injury Disaster Loan Servicing Capability
May 29, 2025
The Office of Inspector General of the U.S. Small Business Administration published a report entitled, “COVID-19 Economic Injury Disaster Loan Servicing Capability.”
Bank Policy Institute
Blog: Redundant, Costly and Inaccurate: The U.S. Bank Liquidity Regime Needs a Rethink
May 29, 2025
The Bank Policy Institute published a blog post entitled, “Redundant, Costly and Inaccurate: The U.S. Bank Liquidity Regime Needs a Rethink.”
International
Bank of England
Speech: State of Trade
May 29, 2025
Bank of England Governor Andrew Bailey gave a speech entitled, “State of trade,” at the Irish Association of Investment Managers Annual Dinner 2025, Dublin.
Financial Conduct Authority
FCA Updates to Requirements, Limitations and Directions
May 29, 2025
The Financial Conduct Authority (FCA) announced it is reviewing and updating around 11,000 requirements, directions or limitations applied to over 9,000 firms.
FCA Responds to the Government's Pension Investment Review
May 29, 2025
The FCA has responded to the announcement of a survey on asset allocation as part of the Treasury’s Pension Investment Review.
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
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