PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, April 3, 2024
April 03, 2024
FedACTion Task Force
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Federal Agencies
Federal Reserve Board
Speech: Bank Mergers and Acquisitions, and De Novo Bank Formation: Implications for the Future of the Banking System
April 2, 2024
Federal Reserve Board Governor Michelle W. Bowman gave a speech entitled, "Bank Mergers and Acquisitions, and De Novo Bank Formation: Implications for the Future of the Banking System," at a workshop on the future of banking hosted by the Federal Reserve Bank of Kansas City, Kansas City, Missouri.
Speech: Hope, Promise, and Mentors
April 1, 2024
Federal Reserve Board Governor Lisa D. Cook gave a speech entitled, "Hope, Promise, and Mentors," at the Samuel DuBois Cook Center Career Achievement Awards Ceremony, the University Club, Washington, D.C.
Federal Reserve Bank of New York
Report: The Global Credit Cycle
April 2, 2024
The Federal Reserve Bank of New York published a staff report entitled, "The Global Credit Cycle."
Report: Paradoxes and Problems in the Causal Interpretation of Equilibrium Economics
April 2, 2024
The Federal Reserve Bank of New York published a staff report entitled, "Paradoxes and Problems in the Causal Interpretation of Equilibrium Economics."
Report: Miss-Allocation: The Value of Workplace Gender Composition and Occupational Segregation
April 2, 2024
The Federal Reserve Bank of New York published a staff report entitled, "Miss-Allocation: The Value of Workplace Gender Composition and Occupational Segregation."
Bank Policy Institute
Research Note: Lender Performance in the Personal Loan Market from the Perspective of Consumer Complaints
April 2, 2024
The Bank Policy Institute published a research note entitled, "Lender Performance in the Personal Loan Market from the Perspective of Consumer Complaints."
Office of Financial Research
Brief: Liquidity Coverage Ratios of Large U.S. Banks During and After the COVID-19 Shock
April 2, 2024
The Office of Financial Research published a brief entitled, "Liquidity Coverage Ratios of Large U.S. Banks During and After the COVID-19 Shock."
International
Bank of England
Money and Credit - February 2024
April 2, 2024
The Bank of England released the Money and Credit statistics and effective interest rates for February 2024.
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)
- 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 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.