left-caret

PH FedACTion: Financial Regulatory Updates

Daily Financial Regulation Update -- Thursday, January 5, 2023

January 05, 2023

FedACTion Task Force

Subscribe to PH FedACTion: Financial Regulatory Updates

PH Fintech Tracker on Executive Order for Digital Assets

Federal Agencies

Federal Reserve Board

Paper: Bad News, Good News: Coverage and Response Asymmetries

January 4, 2023

The Federal Reserve Board published a paper entitled, "Bad News, Good News: Coverage and Response Asymmetries."

Minutes of the Federal Open Market Committee, December 13-14, 2022

January 4, 2023

The Federal Reserve Board released the minutes of the Federal Open Market Committee meeting held December 13-14, 2022.

Federal Deposit Insurance Corporation

FDIC Releases Public Resolution Plans for 21 Large Banks

January 4, 2023

The Federal Deposit Insurance Corporation today released the public sections of resolution plans of 21 large insured depository institutions due by December 1, 2022.

Securities and Exchange Commission

Statement on Fall 2022 Regulatory Flexibility Agenda

January 4, 2023

Securities and Exchange Commission Chair Gary Gensler issued a statement regarding the fall 2022 Unified Agenda of Regulatory and Deregulatory Actions.

Consumer Financial Protection Bureau

Blog: Even as rents increase, fewer people are buying

January 4, 2023

The Consumer Financial Protection Bureau Office of Research published a blog post entitled, "Even as rents increase, fewer people are buying."

Federal Housing Finance Agency

FHFA Releases 2023 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions

January 4, 2023

The Federal Housing Finance Agency released the 2023 Scorecard for Fannie Mae and Freddie Mac and their joint venture, Common Securitization Solutions, LLC.

Administration Changes

Vacancies

Federal Deposit Insurance Corporation

  • Chair – Martin Gruenberg Senate confirmed December 19, 2022
  • Vice Chairman – Travis Hill Senate confirmed December 19, 2022
  • Member – Jonathan McKernan Senate confirmed December 19, 2022

Office of the Comptroller of the Currency

  • Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)

Appointments/Confirmation Hearings

U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)

Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)

Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)

Federal Deposit Insurance Corporation – Martin Gruenberg (confirmed December 19, 2022)

Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)

Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)

Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)

Commodity Futures Trade Commission – Rostin Behnam (effective December 17, 2021)

Financial Crimes Enforcement Network

National Credit Union Administration – Todd M. Harper

U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)

Federal Housing Finance Agency – Sandra L. Thompson, (confirmed May 25, 2022)

U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)

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.