PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, October 31, 2025
October 31, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Congress
U.S. Senate
Committee on Banking, Housing and Urban Affairs
Committee Holds Nomination Hearing
October 30, 2025
The Senate Committee on Banking, Housing and Urban Affairs held a hearing on the following nominations:
- Travis Hill for chairperson of the board of directors of the Federal Deposit Insurance Corporation
- Joseph Gormley for president of the Government National Mortgage Association within the Department of Housing and Urban Development
- Francis Cassidy for assistant secretary of the Department of Housing and Urban Development
- Paul Hollis for director of the Mint within the Department of the Treasury
- Hearing
- Committee Chair Scott Statement
- FDIC Designate Hill Testimony
- HUD Designate Gormley Testimony
- HUD Designate Cassidy Testimony
- Treasury Designate Hollis Testimony
Federal Agencies
Federal Reserve Board
Fed Vice Chair Makes Opening Remarks at Economic Growth and Regulatory Paperwork Reduction Act Outreach Meeting
October 30, 2025
Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman gave opening remarks at the Economic Growth and Regulatory Paperwork Reduction Act Outreach Meeting at the Federal Reserve Bank of Kansas City.
Securities and Exchange Commission
SEC Chair Issues Statement on Phase-In Termination Date for the De Minimis Exception to the Security-Based Swap Dealer Definition
October 30, 2025
Securities and Exchange Commission Chair Paul S. Atkins issued a statement regarding the phase-in termination date for the de minimis exception to the Security-Based Swap Dealer definition.
Federal Housing Finance Agency
Annual Housing Report — 2025
October 30, 2025
The Federal Housing Finance Agency released the Annual Housing Report describing the affordable housing activities of Fannie Mae and Freddie Mac in 2024.
Freddie Mac
Freddie Mac Announces Q3 2025 Financial Results
October 30, 2025
Freddie Mac reported its Q3 2025 financial results and filed its quarterly report on Form 10-Q with the SEC.
International
European Banking Authority
EBA Advises European Commission on Foundations of the New AML/CFT Regime
October 30, 2025
The European Banking Authority responded to the European Commission’s Call for Advice on the key components of the new anti-money laundering/countering the financing of terrorism (AML/CFT) framework.
Bank of England
Bank of England Releases 2025– Wholesale Cash Distribution Annual Report
October 30, 2025
The Bank of England released the annual report setting out how it has exercised its responsibilities in supervising the wholesale cash distribution market.
Financial Conduct Authority
FCA Warns Investors in CFDs Risk Losing Out on Protections
October 30, 2025
People who invest in contracts for difference should not give up vital consumer protections, the Financial Conduct Authority said in a warning it issued on Oct. 30.
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 W. Bowman (sworn in June 9, 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; purportedly terminated August 25, 2025)
- Stephen Miran (sworn in September 16, 2025)
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 Jonathan Gould (Comptroller of the Currency)
- Director Russel Vought (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Jonathan Gould (effective July 15, 2025)
Securities and Exchange Commission – Paul Atkins (effective April 9, 2025)
Commodity Futures Trading Commission – Caroline D. Pham (Acting Chairman effective January 20, 2025)
Consumer Financial Protection Bureau – 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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