PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Monday, April 7, 2025
April 07, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
Securities and Exchange Commission
Statement on Stablecoins
April 4, 2025
The Securities and Exchange Commission’s Division of Corporation Finance issued a statement on stablecoins.
Congress
U.S. House of Representatives
Committee on Financial Services
Op-Ed: CoinDesk: A Blueprint for Digital Assets in America
April 4, 2025
The chairmen of the House Committee on Financial Services and House Committee on Agriculture wrote an article entitled “Coindesk: A Blueprint for Digital Assets in America.”
Federal Agencies
Federal Reserve Board
Working Paper: Energy Consumption and Inequality in the U.S.: Who are the Energy Burdened?
April 4, 2025
The Federal Reserve Board published a working paper entitled “Energy Consumption and Inequality in the U.S.: Who are the Energy Burdened?”
Speech: AI, Fintechs and Banks
April 4, 2025
Federal Reserve Board Governor Michael S. Barr gave a speech entitled “AI, Fintechs, and Banks,” at the Federal Reserve Bank of San Francisco.
Speech: Economic Outlook
April 4, 2025
Federal Reserve Board Chair Jerome H. Powell gave a speech entitled “Economic Outlook,” at the Society for Advancing Business Editing and Writing Annual Conference, Arlington, Virginia.
Commodity Futures Trading Commission
Remarks: Twin Peaks - Emerging Technologies (AI) and Critical Third Parties
April 4, 2025
Commodity Futures Trading Commission Commissioner Kristin N. Johnson gave keynote remarks entitled “Twin Peaks - Emerging Technologies (AI) and Critical Third Parties,” at the Governing Data Symposium at IIB&L Center and Yale Law Journal of Law & Technology at Yale Law School.
U.S. Department of Labor
The Employment Situation – March 2025
April 4, 2025
The U.S. Bureau of Labor Statistics released the jobs report for March 2025.
International
European Banking Authority
The EBA publishes its annual assessment of banks’ internal approaches for the calculation of capital requirements
April 4, 2025
The European Banking Authority published its 2024 Reports on the annual market and credit risk benchmarking exercises.
Bank of England
Minutes of the SONIA Stakeholder Advisory Group - 20 March 2025
April 4, 2025
The Bank of England released the minutes of the SONIA Stakeholder Advisory Group meeting held on 20 March 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 Michelle Bowman (nominated March 17, 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 (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 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
