PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Monday March 17, 2025
March 17, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
U.S. Senate
BPI Proposes Four Key Considerations to Advance AI in Banking
March 14, 2025
The Bank Policy Institute sent a response to a request for information from the White House Office of Science and Technology Policy, which is developing an Artificial Intelligence Action Plan.
Federal Agencies
Commodity Futures Trading Commission
Keynote Address at FIA BOCA50
March 11, 2025
Commodity Futures Trading Commission Chair Caroline D. Pham gave a keynote address at FIA BOCA50.
International
European Banking Authority
The EBA consults on draft technical standards setting out the threshold for prudential risk management requirements of central securities depositories providing banking-type ancillary services
March 14, 2025
The European Banking Authority (EBA) launched a public consultation on draft Regulatory Technical Standards (on the threshold of activity at which Central Securities Depositories providing ‘banking-type ancillary services’, need to meet certain prudential risk management requirements set out in the Central Securities Depositories Regulation.
Bank of England
Bank of England/Ipsos Inflation Attitudes Survey - February 2025
March 14, 2025
The Bank of England released the quarterly Inflation Attitudes Survey, conducted by Ipsos, which assesses public attitudes to inflation, opinions about the Bank and awareness of its work.
Financial Conduct Authority
FCA seeks views on removing the £100 contactless limit
March 14, 2025
The Financial Conduct Authority is looking at whether removing or increasing the contactless limit could benefit consumers, merchants and economic growth in the UK.
Primary Market Bulletin 54
March 14, 2025
The Financial Conduct Authority published the Primary Market Bulletin for 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 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 19, 2025)
U.S. Department of Housing and Urban Development – Scott Turner (effective February 3, 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
