Daily Financial Regulation Update -- Tuesday, October 14, 2025

Subscribe to PH FedACTion: Financial Regulatory Updates
Subscribe to the PHFintech: Crypto Policy Tracker

 

International

European Commission

Commission Finds State Aid Rules on Guarantees Still Relevant but Can Be Updated

October 12, 2025

The European Commission has found that the State aid rules on guarantees are still relevant as they increase predictability and legal certainty but that some improvements and simplification are necessary.

• Staff Working Document
• Commission Notice
• Final Report
• Q&A
• Press Release

 

Commission President Speaks at EU-Western Balkans Investment Forum

October 12, 2025

European Commission President Ursula von der Leyen delivered a speech at the opening ceremony of the EU-Western Balkans Investment Forum.

• Speech

 

Executive Vice President Fitto Speaks at 23rd EU Week of Regions and Cities

October 12, 2025

Executive Vice President for Cohesion and Reforms Raffaele Fitto delivered remarks on the 23rd EU Week of Regions and Cities.

• Speech

 

European Banking Authority

EBA Updates List of Third-Country Groups and Branches Operating in the EU and EEA

October 13, 2025

The European Banking Authority released an updated list of third-country groups and branches operating across the European Union and the European Economic Area.

• List
• Press Release

 

Financial Conduct Authority

FCA Announces Partnership to Accelerate Delivery of Open Finance

October 13, 2025

The FCA has been working with the industry to deliver open finance, which will give consumers control over how they manage their money and plan their finances.

• Press Release

 

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 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 (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