PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday, April 15, 2025
April 15, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Congress
U.S. Senate
Committee on Banking, Housing and Urban Affairs
Senators Introduce Bill to Expand Access to Credit
April 11, 2025
The Credit Access and Inclusion Act was introduced to expand credit access for millions of Americans with limited or non-existent credit histories.
Federal Agencies
Federal Reserve Board
Speech: A Tale of Two Outlooks
April 14, 2025
Federal Reserve Board Governor Christopher J. Waller gave a speech entitled, “A Tale of Two Outlooks,” at the Certified Financial Analysts Society of St. Louis, Missouri.
Federal Reserve Bank of New York
Short-Term Inflation Expectations Increase, Labor Market Expectations Deteriorate
April 14, 2025
The Federal Reserve Bank of New York’s Center for Microeconomic Data released the March 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations increased at the short-term horizon, remained unchanged at the medium-term horizon and ticked down at the longer-term horizon.
Blog: Will Peak Demand Roil Global Oil Markets?
April 14, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, “Will Peak Demand Roil Global Oil Markets?”
Securities and Exchange Commission
SEC Publishes New Data and Analysis About Registered Investment Companies and Money Market Funds
April 14, 2025
The Securities and Exchange Commission (SEC) published new data and analysis in a pair of reports that provide the investing public with updated key information about registered investment companies and money market funds.
Financial Crimes Enforcement Network
FinCEN Renews Residential Real Estate Geographic Targeting Orders
April 14, 2025
The Financial Crimes Enforcement Network (FinCEN) announced the renewal of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in non-financed purchases of residential real estate.
International
European Commission
EU pauses countermeasures against US tariffs to allow space for negotiations
April 14, 2025
The European Union has paused its countermeasures on unjustified US trade tariffs to allow time and space for EU-US negotiations.
Bank of England
Eighth edition of the Regulatory Initiatives Grid
April 14, 2025
The Financial Services Regulatory Initiatives Forum, comprised of the Bank of England (including the Prudential Regulation Authority), Financial Conduct Authority, Payment Systems Regulator, Competition and Markets Authority, Financial Reporting Council, The Pensions Regulator and Information Commissioner’s Office, with HM Treasury attending as an observer member published the Eighth edition of the Regulatory Initiatives Grid.
Financial Conduct Authority
Research Note: More than reminders: Empowering pawnbroking staff for better customer outcomes
April 14, 2025
The Financial Conduct Authority published a research note entitled, “More than reminders: Empowering pawnbroking staff for better customer outcomes.”
FCA probes banks on bereavement and power of attorney policies
April 12, 2025
The Financial Conduct Authority has highlighted that banks and building societies can improve how they treat customers affected by bereavement or registering a power of attorney.
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
Contributors
