PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, August 6, 2025
August 06, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
Federal Deposit Insurance Corporation
FDIC Updates Supervisory Approach Regarding the Use of Pre-Populated Information for Purposes of Customer Identification Program Requirements
August 5, 2025
The Federal Deposit Insurance Corporation (FDIC) has updated its supervisory approach regarding whether an FDIC-supervised institution can use pre-populated customer information for the purpose of opening an account to satisfy Customer Identification Program (CIP) requirements.
Securities and Exchange Commission
Securities and Exchange Commission Division of Corporation Finance Issues Staff Statement on Certain Liquid Staking Activities
August 5, 2025
The Securities and Exchange Commission's Division of Corporation Finance issued a statement regarding certain liquid staking activities.
Financial Crimes Enforcement Network
Exemptive Relief Order to Delay the Effective Date of the Investment Adviser Rule
August 5, 2025
The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued an order that grants exemptive relief to covered investment advisers from the requirements of the Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers (IA AML Rule) until January 1, 2028.
Federal Agencies
Federal Reserve Board
Federal Deposit Insurance Corporation
Federal Reserve Board and FDIC Release Public Sections of Resolution Plans for Banking Organizations
August 5, 2025
The Federal Reserve Board and the Federal Deposit Insurance Corporation released the public sections of resolution plans for the eight largest and most complex domestic banking organizations and 56 foreign banking organizations.
Federal Reserve Board
Paper: Indirect Credit Supply: How Bank Lending to Private Credit Shapes Monetary Policy Transmission
August 5, 2025
The Federal Reserve Board published a discussion paper entitled “Indirect Credit Supply: How Bank Lending to Private Credit Shapes Monetary Policy Transmission.”
Paper: Harmonized Population and Labor Force Statistics
August 5, 2025
The Federal Reserve Board published a discussion paper entitled “Harmonized Population and Labor Force Statistics.”
Discussion of Dynamic Causal Effects in a Nonlinear World: The Good, the Bad and the Ugly
August 5, 2025
The Federal Reserve Board published a paper discussing “Dynamic Causal Effects in a Nonlinear World: the Good, the Bad, and the Ugly.”
Federal Reserve Bank of New York
Blog: A Check‑In on the Mortgage Market
August 5, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled “A Check‑In on the Mortgage Market.”
Household Debt Growth Remains Steady; Auto Loan Originations Pick Up
August 5, 2025
The Federal Reserve Bank of New York’s Center for Microeconomic Data issued its Quarterly Report on Household Debt and Credit.
Securities and Exchange Commission
Commodity Futures Trading Commission
Statement of Commissioner Kristin Johnson: Recap of 2025 Regulators Roundtable on Financial Markets Innovation and Supervision of Emergent Technology
August 5, 2025
Commodity Futures Trading Commission Commissioner Kristin Johnson issued a statement recapping the 2025 Regulators Roundtable on Financial Markets Innovation and Supervision of Emergent Technology.
Federal Housing Finance Agency
US Federal Housing Expands America’s Affordable Housing Supply in Rural and Underserved Communities
August 5, 2025
The U.S. Federal Housing Finance Agency announced it is doubling the amount that Fannie Mae and Freddie Mac can invest in safe and sound Low Income Housing Tax Credit properties from $1 billion to $2 billion each, a total of $4 billion per year.
International
European Banking Authority
The EBA Consults to Simplify and Streamline Its Technical Standards on Resolution Plans and on the Functioning of Resolution Colleges
August 5, 2025
The European Banking Authority (EBA) launched a public consultation to amend the Regulatory Technical Standards (RTS) on resolution plans and the RTS on resolution colleges.
The EBA Publishes Draft Technical Standards on the Prudential Treatment of Crypto-Asset Exposures Under the Capital Requirements Regulation
August 5, 2025
The EBA published its final draft Regulatory Technical Standards (RTS) that specify the technical elements necessary for institutions to calculate and aggregate crypto-asset exposures in relation to the prudential treatment of such exposures.
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)
- 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 (effective July 15, 2025)
Securities and Exchange Commission – Paul Atkins (effective April 9, 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 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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