PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, April 9, 2025
April 09, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
Federal Deposit Insurance Corporation
Remarks: View from the FDIC: Update on Key Policy Issues
April 8, 2025
Federal Deposit Insurance Corporation Acting Chair Travis Hill gave a speech entitled “View from the FDIC: Update on Key Policy Issues” at the American Bankers Association Washington Summit.
Congress
U.S. House of Representatives
Committee on Financial Services
Hearing: U.S. Treasury Debt in the Monetary System
April 8, 2025
The U.S. House Committee on Financial Services task force on Monetary Policy, Treasury Market Resilience and Economic Prosperity held a hearing entitled “U.S. Treasury Debt in the Monetary System.”
Hearing: Decades of Dysfunction: Restoring Accountability at HUD
April 8, 2025
The U.S. House Committee on Financial Services held a hearing entitled “Decades of Dysfunction: Restoring Accountability at HUD.” The subcommittee heard testimony from U.S. Department of Housing and Urban Development Acting Inspector General Stephen M. Begg.
- Hearing
- Press Release
- Subcommittee Chair Meuser Statement
- Committee Ranking Member Waters Statement
- Inspector General Begg Testimony
Federal Agencies
Federal Reserve Bank of New York
Article: Haircuts in Treasury Repo: A Look at the Non‑Centrally Cleared Bilateral Repo Market
April 8, 2025
The Federal Reserve Bank of New York published a The Teller Window article entitled “Haircuts in Treasury Repo: A Look at the Non‑Centrally Cleared Bilateral Repo Market.”
Conference of State Bank Supervisors
Community Bankers on Economy: Sunshine with Some Dark Clouds Emerging
April 8, 2025
Community bankers report an overall positive economic outlook for a third consecutive quarter, but their confidence in future business conditions is fading, according to the first quarter Community Bank Sentiment Index (CBSI) results.
Office of the Comptroller of the Currency
OCC Notifies Congress of Incident Involving Email System
April 8, 2025
The Office of the Comptroller of the Currency (OCC) notified Congress of a major information security incident, as required by the Federal Information Security Modernization Act.
Community Reinvestment Act, Fair Housing Act and Equal Credit Opportunity Act: OCC Contact Information for Certain Notices and Posters
April 8, 2025
The OCC issued a bulletin informing banks of the appropriate names and addresses for notices required by the Community Reinvestment Act (CRA) and Equal Credit Opportunity Act, and for posters required by the Fair Housing Act. Banks should make the appropriate changes to their notices and posters, if necessary, within 90 days of this bulletin’s date of issuance.
Securities and Exchange Commission
Remarks to the Annual Conference on Federal and State Securities Cooperation
April 8, 2025
Securities and Exchange Commission Acting Chair Mark T. Uyeda gave remarks at the Annual Conference on Federal and State Securities Cooperation.
Bank Policy Institute
Blog: No Matter the Cost: The SEC’s Risky Quest for Cyber Transparency
April 8, 2025
The Bank Policy Institute published a blog post entitled “No Matter the Cost: The SEC’s Risky Quest for Cyber Transparency.”
International
European Banking Authority
EBA Updates List of Institutions Involved in the 2025 Supervisory Benchmarking Exercise
April 8, 2025
The European Banking Authority (EBA) published an updated list of institutions that have a reporting obligation for the purpose of the 2025 EU supervisory benchmarking exercise.
Bank of England Prudential Regulation Authority
PRA Launches Consultation to Help Insurers Accelerate Investment in the UK
April 8, 2025
The Prudential Regulation Authority (PRA) launches a consultation paper setting out proposed rules to reform the Matching Adjustment (MA) application process by introducing a new MAIA permission.
Financial Conduct Authority
Support for Innovative Products and New Firms Part of New FCA Work Program
April 8, 2025
The Financial Conduct Authority (FCA) released a new work program for 2025-2026.
Administration Changes
Vacancies
Appointments
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 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 – 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
