Daily Financial Regulation Update -- Wednesday, August 18, 2021

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Click here to read more from our Coronavirus series.

Congress

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.

Federal Agencies

Federal Reserve Board

Speech: Welcoming Remarks by Chair Jerome H. Powell at Conversation with the Chair: A Virtual Teacher and Student Town Hall Meeting

August 17, 2021

Chair of the Board of Governors of the Federal Reserve System Jerome H. Powell gave welcoming remarks at "Conversation with the Chair: A Virtual Teacher and Student Town Hall Meeting."

• Speech

Federal Reserve Bank of New York

Report: Business Leaders Survey

August 17, 2021

The Federal Reserve Bank of New York released its monthly survey of service firms in New York, northern New Jersey and southwestern Connecticut.

• Report
• Supplemental Survey Report
• Overview

International

UK Financial Conduct Authority

Portfolio Strategy Letter: Investment-based Crowdfunding

August 17, 2021

Director of Consumer Investments Supervision of the UK Financial Conduct Authority Debbie Gupta wrote a letter to firms to ensure that crowdfunding firms promote investment opportunities appropriately so that consumers can understand the risks these speculative and high-risk investments pose.

• Letter

Administration Changes

Appointments/Confirmation Hearings

Department of the Treasury - Janet Yellen (effective January 26, 2021)

• Treasury Announces Key Staff Appointments (June 14, 2021)

Consumer Financial Protection Bureau - Rohit Chopra (Nominee)

• Acting Director: Dave Uejio (January 20, 2020)
• Confirmation hearing held on March 2, 2021
• Committee approval March 10, 2021

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

• Renee Jones to Join SEC as Director of Corporation Finance; John Coates Named SEC General Counsel (June 14, 2021)
• Daniel S. Kahl Appointed Acting Director of the Division of Examinations; Peter B. Driscoll to Depart Agency (July 14, 2021)

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

• Small Business Committee Advances SBA Deputy Administrator Nominee Dilawar Syed (June 17, 2021)

Commodity Futures Trade Commission

• Acting Chair: Rostin Behnam (January 21, 2021)

Financial Crimes Enforcement Network

• FinCEN Announces Acting Director and New Deputy Director (April 2, 2021)

National Credit Union Administration - Todd M. Harper

Department of Housing and Urban Development - Marcia Fudge (effective March 10, 2021)

• Adrianne Todman Sworn in as Deputy Secretary of Housing and Urban Development (June 15, 2021)

Department of Education - Dr. Miguel Cardona (effective March 2, 2021)

• U.S. Department of Education Announces More Biden-Harris Appointees (June 14, 2021)
• Statement by Secretary Cardona on Nomination of Sandra Bruce as Inspector General (June 14, 2021)
• Statement by U.S. Secretary of Education Cardona on President Biden's Nomination of Amy Loyd (August 12, 2021)