Daily Financial Regulation Update -- Tuesday, July 6, 2021

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PH Client Alerts

Click here to read more from our Coronavirus series.

Congress

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.

U.S. House of Representatives

Committee on Financial Services

Waters Calls on Corporate Landlords to Halt Harmful Eviction Practices and Help Stabilize Renters

July 2, 2021

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to the nation’s largest corporate landlords and top eviction filers during the pandemic urging them to work with tenants to inform them of their rights and connect them with emergency rental assistance.

• Letter
• Press Release

Federal Agencies

U.S. Small Business Administration

SBA Administrator Announces Closure of Restaurant Revitalization Fund Program

July 2, 2021

U.S. Small Business Administration Administrator Isabel Guzman announced the closure of the Restaurant Revitalization Fund (RRF) program under the American Rescue Plan. The program provided economic aid to restaurants and other establishments struggling to make ends meet as a result of the pandemic.

• Press Release

Administration Changes

Appointments/Confirmation Hearings

Department of the Treasury - Janet Yellen (effective January 26, 2021)

• Treasury Announces Key Staff Appointments (June 14, 2021)

Consumer Financial Protection Bureau - Rohit Chopra (Nominee)

• Acting Director: Dave Uejio (January 20, 2020)
• Confirmation hearing held on March 2, 2021
• Committee approval March 10, 2021

Securities and Exchange Commission - Gary Gensler (effective April 17, 2021)

• Renee Jones to Join SEC as Director of Corporation Finance; John Coates Named SEC General Counsel (June 14, 2021)

Small Business Administration - Isabella Casillas Guzman (effective March 16, 2021)

• Small Business Committee Advances SBA Deputy Administrator Nominee Dilawar Syed (June 17, 2021)

Commodity Futures Trade Commission

• Acting Chair: Rostin Behnam (January 21, 2021)

Financial Crimes Enforcement Network

• FinCEN Announces Acting Director and New Deputy Director (April 2, 2021)

National Credit Union Administration - Todd M. Harper

Department of Housing and Urban Development - Marcia Fudge (effective March 10, 2021)

• Adrianne Todman Sworn in as Deputy Secretary of Housing and Urban Development (June 15, 2021)

Department of Education - Dr. Miguel Cardona (effective March 2, 2021)

• U.S. Department of Education Announces More Biden-Harris Appointees (June 14, 2021)
• Statement by Secretary Cardona on Nomination of Sandra Bruce as Inspector General (June 14, 2021)