PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Saturday June 15, 2024
June 15, 2024
By Paul Hastings Professional
PH FedACTion: Financial Regulatory Updates
Saturday June 15, 2024
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Federal Agencies
Federal Reserve Board
Working Paper: Trademarks in Banking
June 14, 2024
The Federal Reserve Board published a working paper entitled, “Trademarks in Banking.”
Working Paper: The 2023 Banking Turmoil and the Bank Term Funding Program
June 14, 2024
The Federal Reserve Board published a working paper entitled, “The 2023 Banking Turmoil and the Bank Term Funding Program.”
Working Paper: The Slope of the Phillips Curve
June 14, 2024
The Federal Reserve Board published a working paper entitled, “The Slope of the Phillips Curve.”
Working Paper: Demand Uncertainty, Selection, and Trade
June 14, 2024
The Federal Reserve Board published a working paper entitled, “Demand Uncertainty, Selection, and Trade.”
Working Paper: Reaching for Duration and Leverage in the Treasury Market
June 14, 2024
The Federal Reserve Board published a working paper entitled, “Reaching for Duration and Leverage in the Treasury Market.”
Working Paper: Information Friction in OTC Interdealer Markets
June 14, 2024
The Federal Reserve Board published a working paper entitled, “Information Friction in OTC Interdealer Markets.”
Working Paper: Continuity and Change in the Federal Reserve’s Perspective on Price Stability
June 14, 2024
The Federal Reserve Board published a working paper entitled, “Continuity and Change in the Federal Reserve’s Perspective on Price Stability.”
Working Paper: Income Shocks and Their Transmission into Consumption
June 14, 2024
The Federal Reserve Board published a working paper entitled, “Income Shocks and Their Transmission into Consumption.”
Federal Reserve Bank of New York
Blog: The New York Fed DSGE Model Forecast—June 2024
June 14, 2024
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, “The New York Fed DSGE Model Forecast—June 2024.”
Securities and Exchange Commission
Commisioner’s Remarks at the 30th Annual International Institute for Securities Market Growth and Development
June 14, 2024
Securities and Exchange Commission Commissioner Mark T. Uyeda gave remarks at the 30th Annual International Institute for Securities Market Growth and Development.
Consumer Financial Protection Bureau
Blog: New protections for payday and installment loans slated to take effect next year
June 14, 2024
The Consumer Financial Protection Bureau published a blog post entitled, “New protections for payday and installment loans slated to take effect next year.”
Financial Crimes Enforcement Network
FinCEN Reminds Financial Institutions to Remain Vigilant to Elder Financial Exploitation
June 14, 2024
The Financial Crimes Enforcement Network (FinCEN) reminds financial institutions to remain vigilant in identifying and reporting suspicious activity related to elder financial exploitation.
International
Bank of England
Bank of England/Ipsos Inflation Attitudes Survey - May 2024
June 14, 2024
The Bank of England released the Inflation Attitudes Survey results for May 2024.
Administration Changes
Vacancies
Office of the Comptroller of the Currency
- Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)
Appointments/Confirmation Hearings
U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
- Vice Chair Phillip N Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision 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 – Martin Gruenberg (effective January 5, 2023)
- Chair-Designate Christy Goldsmith Romero
- Vice Chairman Travis Hill (sworn in January 5, 2023)
- Director Jonathan McKernan (sworn in January 5, 2023)
- Director Michael Hsu (Acting Comptroller of the Currency)
- Director Rohit Chopra (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Michael Hsu (acting Comptroller, effective May 10, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
Commodity Futures Trading Commission – Rostin Behnam (effective December 17, 2021)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Todd M. Harper (effective January 20, 2021)
Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)
U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021) (resigned March 11, 2024, effective March 22, 2024)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)
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.