PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday March 11, 2025
March 11, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Agencies Issue 2024 Shared National Credit Program Report
March 10, 2025
The Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency reported in the 2024 Shared National Credit (SNC) report that credit risk associated with large, syndicated bank loans remains moderate.
Federal Reserve Bank of New York
Medium- and Longer-Term Inflation Expectations Unchanged; Consumers’ Pessimism About Their Future Financial Situations Increases
March 10, 2025
The Federal Reserve Bank of New York’s Center for Microeconomic Data released the February 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations increased slightly at the short-term horizon but remained unchanged at the medium- and longer-term horizons.
Fannie Mae
Research: What's Driving the Increasing Importance Consumers Place on Their Homes
March 10, 2025
Fannie Mae published research entitled “What's Driving the Increasing Importance Consumers Place on Their Homes.”
Ginnie Mae
Global Markets Analysis Report – February 2025
March 10, 2025
Ginnie Mae published the Global Markets Analysis Report for February 2025.
International
Financial Conduct Authority
Paper: Multi-Firm Review of Liquidity Risk Management at Wholesale Trading Firms
March 10, 2025
The Financial Conduct Authority published a paper entitled “Multi-firm review of liquidity risk management at wholesale trading firms.”
Vote Reporting: Feedback Statement From the Vote Reporting Group
March 10, 2025
The Financial Conduct Authority published a Feedback Statement from the Vote Reporting Group.
Letter: Supporting AI, Innovation, and Growth in Financial Services
March 10, 2025
The Financial Conduct Authority and Information Commissioner’s Office issued a letter to trade association chairs/CEOs on supporting AI, innovation and growth in financial services.
Administration Changes
Vacancies
Appointments/Confirmation Hearings
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 Vacant
- 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 (nominated December 2024); Mark T. Uyeda (Acting Chairman effective January 20, 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 20, 2025)
U.S. Department of Housing and Urban Development – Scott Turner (effective February 5, 2025)
Federal Housing Finance Agency – William Pulte (nominated January 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 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
Contributors
