PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday April 1, 2025
April 01, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Paper: The Evolution of Inflation Targeting from the 1990s to 2020s: Developments and New Challenges
March 31, 2025
The Federal Reserve Board published a working paper entitled “The Evolution of Inflation Targeting from the 1990s to 2020s: Developments and New Challenges.”
Federal Reserve Bank of New York
Blog: Why Are Credit Card Rates So High?
March 31, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled “Why Are Credit Card Rates So High?”
Office of the Comptroller of the Currency
OCC Withdraws Principles for Climate-Related Financial Risk Management for Large Financial Institutions
March 31, 2025
The Office of the Comptroller of the Currency withdrew its participation in the interagency principles for climate-related financial risk management for large financial institutions.
Consumer Financial Protection Bureau
2024 HMDA Data on Mortgage Lending Now Available
March 31, 2025
The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2024 are now available on the Federal Financial Institutions Examination Council's (FFIEC) HMDA Platform for approximately 4,898 HMDA filers.
Fannie Mae
Fannie Mae Releases February 2025 Monthly Summary
March 31, 2025
Fannie Mae’s February 2025 Monthly Summary is now available.
International
European Banking Authority
The European Supervisory Authorities call for vigilance amid rising geopolitical and cyber risks
March 31, 2025
The three European Supervisory Authorities (EBA, EIOPA and ESMA – collectively, the ESAs) published their Spring 2025 Joint Committee update on risks and vulnerabilities in the EU financial system, which focuses on the challenges linked to geopolitical tensions and cyber risks.
The ESAs publish evaluation report on the Securitization Regulation
March 31, 2025
The Joint Committee of the European Supervisory Authorities has published its evaluation report on the functioning of the EU Securitization Regulation.
Bank of England Prudential Regulation Authority
The Prudential Regulation Authority proposes raising FSCS deposit protection limit to £110,000
March 31, 2025
The Prudential Regulation Authority has proposed to raise the deposit protection limit of the Financial Services Compensation Scheme (FSCS) from £85,000 to £110,000.
Administration Changes
Vacancies
Appointments/Confirmation Hearings
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 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 (nominated December 2024); Mark T. Uyeda (Acting Chairman effective January 20, 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 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
Contributors
