PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday February 19, 2025
February 19, 2025
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Federal Agencies
U.S. Department of the Treasury
Treasury International Capital Data for December
February 18, 2025
The U.S. Department of the Treasury released Treasury International Capital (TIC) data for December 2024.
Federal Reserve Board
Speech: Artificial Intelligence: Hypothetical Scenarios for the Future
February 18, 2025
Federal Reserve Board Vice Chair for Supervision Michael S. Barr gave a speech entitled, “Artificial Intelligence: Hypothetical Scenarios for the Future,” at the Council on Foreign Relations.
Speech: Disinflation Progress Uneven but Still on Track Rates Cuts on Track as Well
February 17, 2025
Federal Reserve Board Governor Christopher J. Waller gave a speech entitled, “Disinflation Progress Uneven but Still on Track Rates Cuts on Track as Well.”
Remarks on the Economy and Accountability in Supervision, Applications, and Regulation
February 17, 2025
Federal Reserve Board Governor Michelle W. Bowman gave remarks on the economy and accountability in supervision, applications and regulation at the American Bankers Association 2025 Conference for Community Bankers in Phoenix, Arizona.
Federal Reserve Bank of New York
Empire State Manufacturing Survey – February 2025
February 18, 2025
The Federal Reserve Bank of New York released the Empire State Manufacturing Survey for February 2025.
Federal Deposit Insurance Corporation
National Rates and Rate Caps – February 2025
February 18, 2025
The Federal Deposit Insurance Corporation released the national rates and rate caps as of February 2025.
International
European Banking Authority
The ESAs provide a roadmap towards the designation of CTPPs under DORA
February 18, 2025
The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) are advancing in the implementation of the pan-European oversight framework of critical ICT third-party service providers (CTPPs) with the objective to designate the CTPPs and to start the oversight engagement this year.
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 Michael Barr (resignation as Vice Chair for Supervision, effective February 28, 2025)
- 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 (nominated December 2024)
U.S. Department of Housing and Urban Development – Scott Turner (nominated November 2024)
Federal Housing Finance Agency – Bill Pulte (nominated January 2025)
U.S. Department of Education – Linda McMahon (nominated November 2024)
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