Daily Financial Regulation Update -- Wednesday, May 28, 2025

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Federal Agencies

Federal Reserve Board

Working Paper: Corporate Debt Maturity and Business Cycle Fluctuations

May 27, 2025

The Federal Reserve Board published a working paper entitled “Corporate Debt Maturity and Business Cycle Fluctuations.”

• Paper

 

Federal Reserve Bank of New York

April SCE Public Policy Survey: Consumers Expect Decreases in Federal Benefits, Reduced Medicare and Lower Taxes

May 27, 2025

The Federal Reserve Bank of New York released the results of the SCE Public Policy Survey for April 2025.

• Survey

 

Article: Puerto Rico Regional Visit: Economic Growth Followed Disaster. What Comes Next?

May 27, 2025

The Federal Reserve Bank of New York published a The Teller Window article entitled “Puerto Rico Regional Visit: Economic Growth Followed Disaster. What Comes Next?”

• Article

 

Commodity Futures Trading Commission

Remarks by CFTC Commissioner Christy Goldsmith Romero: The Future of Financial Services Regulation

May 27, 2025

Commodity Futures Trading Commission Commissioner Christy Goldsmith Romero gave farewell remarks at The Brookings Institute.

• Remarks

 

Federal Housing Finance Agency

U.S. House Prices Rise 4.0 Percent over the Prior Year; Up 0.7 Percent from the Fourth Quarter of 2024

May 27, 2025

U.S. house prices rose 4.0 percent between the first quarter of 2024 and the first quarter of 2025, according to the U.S. Federal Housing (FHFA) House Price Index (FHFA HPI®).

• HPI
• 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 Bowman (nominated March 17, 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 (nominated February 11, 2025); Rodney E. Hood (Acting Comptroller effective February 10, 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