PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday January 31, 2025
January 31, 2025
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Major Developments
Congress
U.S. Senate
Committee on Small Business and Entrepreneurship
Hearing: Nomination of Kelly Loeffler to Be Administrator of the Small Business Administration
January 29, 2025
The U.S. Senate Committee on Small Business and Entrepreneurship held a hearing on the nomination of Kelly Loeffler to be administrator of the Small Business Administration.
Federal Agencies
U.S. Department of the Treasury
U.S. Department of the Treasury Withdraws from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS)
January 30, 2025
The U.S. Department of the Treasury’s Federal Insurance Office notified the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) that it is withdrawing its membership.
Consumer Financial Protection Bureau
CFPB Updates List of Consumer Reporting Companies
January 30, 2025
The Consumer Financial Protection Bureau (CFPB) released its annual list of consumer reporting companies.
International
Bank of England
Money and Credit - December 2024
January 30, 2025
The Bank of England released the Money and Credit statistics for December 2024, including effective interest rates.
Bank of England Prudential Regulation Authority
PRA Climate Change Adaptation Report 2025
January 30, 2025
The Prudential Regulation Authority released its 2025 Climate Change Adaptation Report.
Financial Conduct Authority
The FCA and Practitioner Panel Joint Survey for 2025 Launches
January 30, 2025
The Financial Conduct Authority and Practitioner Panel launched their joint survey for 2025.
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 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 – Mark T. Uyeda (Acting Chairman effective January 20, 2025); Paul Atkins (nominated December 2024)
Commodity Futures Trading Commission Caroline D. Pham (Acting Chairman effective January 20, 2025)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Kyle Hauptman (Acting 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