PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday March 5, 2025
March 05, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Congress
U.S. House of Representatives
Committee on Financial Services
Hearing Task Force on Monetary Policy, Treasury Market Resilience and Economic Prosperity: Examining Monetary Policy and Economic Opportunity
March 4, 2025
The U.S. House Committee on Financial Services Task Force on Monetary Policy, Treasury Market Resilience and Economic Prosperity held a hearing entitled, “Task Force on Monetary Policy, Treasury Market Resilience and Economic Prosperity: Examining Monetary Policy and Economic Opportunity.”
Hearing: Building Our Future: Increasing Housing Supply in America
March 4, 2025
The U.S. House Committee on Financial Services Subcommittee on Housing and Insurance held a hearing entitled, “Building Our Future: Increasing Housing Supply in America.”
Federal Agencies
Federal Reserve Bank of New York
Staff Report: The Prudential Toolkit with Shadow Banking
March 4, 2025
The Federal Reserve Bank of New York published a staff report entitled, “The Prudential Toolkit with Shadow Banking.”
Federal Reserve Bank of Boston
Paper: Evidence That Relaxing Dealers’ Risk Constraints Can Make the Treasury Market More Liquid
March 4, 2025
The Federal Reserve Bank of Boston published a Current Policy Perspectives paper entitled, “Evidence That Relaxing Dealers’ Risk Constraints Can Make the Treasury Market More Liquid.”
Federal Deposit Insurance Corporation
FDIC Board of Directors Withdraws Four Outstanding Proposed Rules
March 3, 2025
The Federal Deposit Insurance Corporation’s (FDIC) Board of Directors approved the withdrawal of three outstanding proposed rules relating to:
- Brokered Deposits,
- Corporate Governance, and
- the Change in Bank Control Act.
The FDIC is also withdrawing authority for staff to publish in the Federal Register a proposed rule related to incentive-based compensation arrangements.
Securities and Exchange Commission
SEC Staff Facilitates Capital Formation for Companies Planning Public Offerings
March 3, 2025
The Securities and Exchange Commission today announced that its Division of Corporation Finance is further facilitating capital formation by enhancing the accommodations available to companies for nonpublic review of draft registration statements.
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 Vacant
- 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 20, 2025)
U.S. Department of Housing and Urban Development – Scott Turner (effective February 5, 2025)
Federal Housing Finance Agency – William Pulte (nominated January 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
