PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday, January 23 2024
January 23, 2024
FedACTion Task Force
Subscribe to PH FedACTion: Financial Regulatory Updates
Federal Agencies
Federal Reserve Board
Federal Reserve Board announces it will extend the comment period on its interchange fee proposal until May 12, 2024 and published additional related data
January 22, 2024
The Federal Reserve Board announced that it will extend until May 12, 2024, the comment period on its interchange fee proposal.
Federal Reserve Board announces five new members of its Community Advisory Council (CAC)
January 22, 2024
The Federal Reserve Board announced five new members of its Community Advisory Council.
OIG: Report of Investigation on the Closing of 22-0030-I Reserve Bank Trading Activity
January 18, 2024
The Office of Inspector General of the Federal Reserve Board published a report on the investigation of whether the 2020 trading activities of certain senior Board and Federal Reserve Bank officials violated the law or Federal Reserve policies, whether the trading activities warrant further investigation by other authorities, and any other related matters deemed appropriate.
Federal Reserve Bank of New York
SCE Public Policy Survey – December 2023
January 22, 2024
The Federal Reserve Bank of New York released the findings from the December 2023 SCE Public Policy Survey.
Securities and Exchange Commission
Commissioner Uyeda's Remarks at the 51st Annual Securities Regulation Institute
January 22, 2024
Securities and Exchange Commission Commissioner Mark T. Uyeda gave remarks at the 51st Annual Securities Regulation Institute.
National Credit Union Administration
Letter: NCUA's 2024 Supervisory Priorities
January 22, 2024
The National Credit Union Administration sent a letter to federally insured credit unions on its 2024 examination program supervisory priorities.
Federal Housing Finance Agency
Blog: FHFA's Fall 2023 Econ Summit on Climate Risk
January 22, 2024
The Federal Housing Finance Agency published a blog post entitled, "FHFA's Fall 2023 Econ Summit on Climate Risk."
State Agencies
New York State Department of Financial Services
DFS Releases Final Guidance On Vetting Key Personnel For State-Chartered Banks And Non-Depository Institutions
January 22, 2024
The New York Department of Financial Services released final guidance to New York State banking organizations and non-depository financial institutions licensed or chartered under the New York Banking Law or Financial Services Law to notify them of the Department's expectations regarding their review and assessment of the character and fitness of their directors and senior officers, both upon onboarding and on an ongoing basis.
International
Bank of England
Minutes of the Securities Lending Committee meeting – November 2023
January 22, 2024
The Bank of England released the minutes of the Securities Lending Committee meeting held November 30, 2023
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)
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.