Congress
U.S. Senate
Committee on Banking, Housing, and Urban Affairs
Hearing: National Security Challenges: Outpacing China in Emerging Technology
January 18, 2024
The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "National Security Challenges: Outpacing China in Emerging Technology."
U.S. House of Representatives
Committee on Financial Services
Hearing: Oversight of the SEC's Proposed Climate Disclosure Rule: A Future of Legal Hurdles
January 18, 2024
The U.S. House Committee on Financial Services Subcommittee on Oversight and Investigations Subcommittee held a hearing entitled, "Oversight of the SEC's Proposed Climate Disclosure Rule: A Future of Legal Hurdles."
Committee on Small Business
Hearing: Unleashing Main Street's Potential: Examining Avenues to Capital Access
January 18, 2024
The U.S. House Committee on Small Business held a hearing entitled, ""Unleashing Main Street's Potential: Examining Avenues to Capital Access."
Federal Agencies
U.S. Department of the Treasury
Remarks by Assistant Secretary Steele at the George Washington University Law School Business & Finance Law Program
January 18, 2024
Assistant Secretary for Financial Institutions Graham Steele gave remarks at the George Washington University Law School Business & Finance Law Program.
Treasury Targets Price Cap Violation-Linked Shipping Company
January 18, 2024
The U.S. Department of the Treasury's Office of Foreign Assets Control is taking an oil price cap enforcement action, targeting a shipping company linked to a price cap violation.
Federal Reserve Bank of New York
New York Fed Report Finds Early Delinquency Rates Rose for Low-Income Borrowers
January 18, 2024
The Federal Reserve Bank of New York today released a report entitled, "The State of Low-Income America: Credit Access & Housing," a report examining debt holdings across income groups.
Article: Non-Centrally Cleared Bilateral Repo Market in Focus at the 2023 U.S. Treasury Market Conference
January 18, 2024
The Federal Reserve Bank of New York published a The Teller Window article entitled, "Non-Centrally Cleared Bilateral Repo Market in Focus at the 2023 U.S. Treasury Market Conference."
Blog: The Power of Proximity: How Working beside Colleagues Affects Training and Productivity
January 18, 2024
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, "The Power of Proximity: How Working beside Colleagues Affects Training and Productivity."
Office of the Comptroller of the Currency
Acting Comptroller Discusses Bank Liquidity Risk
January 18, 2024
Acting Comptroller of the Currency Michael J. Hsu issued remarks on bank liquidity risk at Columbia University Law School in New York.
National Credit Union Administration
Board Approves Annual Performance Plan; Briefed on DEIA Strategic Plan
January 18, 2024
The National Credit Union Administration Board held its first open meeting of 2024 and unanimously approved the agency's 2024 Annual Performance Plan and received a briefing on the Diversity, Equity, Inclusion, and Accessibility Strategic Plan, 2024–2026.
Fannie Mae
Mortgage Rates Expected to Dip Below 6 Percent in 2024, Boosting Home Sales
January 18, 2024
Fannie Mae's Economic and Strategic Research Group published their January 2024 commentary.
International
European Banking Authority
EBA consults on amending the data collection for the benchmarking exercise in 2025
January 18, 2024
The European Banking Authority published a consultation paper amending the Implementing Regulation on the benchmarking of credit risk, market risk and IFRS9 models for the 2025 exercise.
The EBA consults on Guidelines on the management of ESG risks
January 18, 2024
The European Banking Authority launched a public consultation on draft Guidelines on the management of Environmental, Social and Governance (ESG) risks.
Bank of England
Credit Conditions Survey - 2023 Q4
January 18, 2024
The Bank of England released the results of the Credit Conditions Survey for Q4 2023.
Bank Liabilities Survey - 2023 Q4
January 18, 2024
The Bank of England released the results of the Bank Liabilities Survey for Q4 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.
