PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday January 29, 2025
January 29, 2025
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Federal Agencies
Consumer Financial Protection Bureau
CFPB Report Finds Continued Challenges for Households That Rent
January 28, 2025
The Consumer Financial Protection Bureau released two reports looking at national rental payment data from September 2021 to November 2024.
CFPB Sends Letters to State Legislatures Barring Medical Bills on Credit Reports
January 28, 2025
The Consumer Financial Protection Bureau sent letters to the state legislatures of Massachusetts, Oregon, South Dakota and Washington on barring medical bills on credit reports.
FINRA
FINRA Publishes 2025 Regulatory Oversight Report
January 28, 2025
FINRA published today the 2025 FINRA Regulatory Oversight Report comprising observations from across FINRA’s Member Supervision, Market Regulation and Enforcement programs that member firms can use throughout the year to strengthen their compliance programs.
Federal Housing Finance Agency
FHFA House Price Index Up 0.3 Percent in November; Up 4.2 Percent from Previous Year
January 28, 2025
U.S. house prices rose 0.3 percent in November, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index.
International
Bank of England
Bank of England Opens New Contingent Non-Bank Lending Facility for Applications
January 28, 2025
The Bank of England opened the Contingent Non-Bank Financial Institution Repo Facility (CNRF) for applications.
Capital Issuance - December 2024
January 28, 2025
The Bank of England released the capital issuance statistics for December 2024.
Speech: Prime Brokerage
January 28, 2025
Bank of England Executive Director Rebecca Jackson gave a speech entitled “Prime brokerage,” at UK Finance.
Bank of England Prudential Regulation Authority
Andrea Enria Appointed to the Prudential Regulation Committee
January 28, 2025
Andrea Enria, former Chair of the European Central Bank’s supervisory board, has been appointed to the Prudential Regulation Committee by the Governor of the Bank of England, Andrew Bailey.
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 Michael Barr (resignation as Vice Chair for Supervision, effective February 28, 2025)
- 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 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 – Mark T. Uyeda (Acting Chairman effective January 20, 2025); Paul Atkins (nominated December 2024)
Commodity Futures Trading Commission Caroline D. Pham (Acting Chairman effective January 20, 2025)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Kyle Hauptman (Acting Chairman effective January 20, 2025)
Small Business Administration – Kelly Loeffler (nominated December 2024)
U.S. Department of Housing and Urban Development – Scott Turner (nominated November 2024); Marcia Fudge (resigned March 11, 2024, effective March 22, 2024)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Linda McMahon (nominated November 2024); 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