PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday October 29
October 29, 2024
By Paul Hastings Professional
Subscribe to PH FedACTion: Financial Regulatory Updates
Federal Agencies
U.S. Department of the Treasury
Treasury Announces Marketable Borrowing Estimates
October 28, 2024
The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing for the October–December 2024 and January–March 2025 quarters.
Securities and Exchange Commission
Speech: Joint Powers Authorities and Other Topics for Market Participants
October 24, 2024
Securities and Exchange Commission Office of Municipal Securities Director Dave A. Sanchez gave a speech entitled “Joint Powers Authorities and Other Topics for Market Participants,” at the California Bond Buyer Conference.
U.S. Department of Housing and Urban Development/Federal Housing Administration
Federal Housing Finance Agency
FHFA and HUD Expand Scope of Public Appraisal Data to Ensure Fairer Home Appraisals
October 28, 2024
The Federal Housing Finance Agency and U.S. Department of Housing and Urban Development jointly released new appraisal data from loan applications on single-family mortgages submitted to HUD’s Federal Housing Administration.
Federal Housing Finance Agency
FHFA Announces Updates to Enterprise Policies on Appraisals, Loan Repurchase Alternatives, and Pricing Notifications
October 28, 2024
The Federal Housing Finance Agency announced updates to several Fannie Mae and Freddie Mac policies that are intended to enhance efficiencies and promote cost savings in the single-family mortgage market.
- FHFA Press Release
- Fannie Mae Appraisal Waiver Press Release
- Freddie Mac Appraisal Waiver Press Release
- Freddie Mac Performing Loan Repurchase Alternative Pilot Press Release
Prepared Remarks of FHFA Deputy Director Naa Awaa Tagoe at the 2024 Mortgage Bankers Association Annual Convention & Expo
October 28, 2024
Federal Housing Finance Agency Deputy Director Naa Awaa Tagoe gave remarks at the 2024 Mortgage Bankers Association Annual Convention & Expo.
International
European Banking Authority
The EBA consults on draft technical standards for structural foreign exchange positions
October 28, 2024
The European Banking Authority launched a public consultation on its draft Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) on structural foreign exchange (FX), under the Capital Requirements Regulation
Bank of England
Speech: The future of money and payments
October 26, 2024
Bank of England Governor Andrew Bailey gave a speech entitled “The future of money and payments,” at the Group of Thirty’s 39th Annual International Banking Seminar, Washington, D.C.
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 (nominated June 13, 2024; nomination hearing July 11, 2024)
- 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 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.