Federal Agencies
U.S. Department of the Treasury
Remarks by Deputy Secretary of the Treasury Wally Adeyemo at the Economic Club of New York on the Investments in Unlocking Unrealized Economic Potential
September 11, 2023
Deputy Secretary of the Treasury Wally Adeyemo gave remarks at the Economic Club of New York.
Federal Reserve Bank of New York
Survey: Households Less Optimistic about their Financial Situations
September 11, 2023
The Federal Reserve Bank of New York's Center for Microeconomic Data released the August 2023 Survey of Consumer Expectations, which shows that inflation expectations were largely stable, rising slightly at the short- and longer-term horizons, and falling slightly at the medium-term horizon.
Securities and Exchange Commission
Commissioner Remarks to the 2023 NASAA Fall Annual Meeting – Modernizing Investor Protection for the Digital Age
September 10, 2023
Securities and Exchange Commission Commissioner Mark T. Uyeda gave remarks to the 2023 NASAA Fall Annual Meeting – Modernizing Investor Protection for the Digital Age.
Commodity Futures Trading Commission
Modernizing Investor Protection for the Digital Age: Opening Remarks of CFTC Commissioner Christy Goldsmith Romero
September 11, 2023
Commodity Futures Trading Commission Commissioner Christy Goldsmith Romero gave opening remarks at the North American Securities Administrators Association Annual Meeting – Modernizing Investor Protection for the Digital Age.
Consumer Financial Protection Bureau
Prepared Remarks of CFPB Director Rohit Chopra at The Mortgage Collaborative National Conference
September 11, 2023
Consumer Financial Protection Bureau Director Rohit Chopra gave remarks at the Mortgage Collaborative National Conference regarding mortgage regulation
Federal Housing Finance Agency
FHFA Announces Next Phase of Public Engagement Process for Updated Credit Score Requirements
September 11, 2023
The Federal Housing Finance Agency announced additional opportunities for ongoing public engagement to facilitate the transition to updated credit score models and credit report requirements for loans acquired by Fannie Mae and Freddie Mac.
Bank Policy Institute
Letter: Limiting Medical Payment Options Won't Deter Costs but Will Reduce Access to Services
September 11, 2023
The Bank Policy Institute and Consumer Bankers Association sent a letter to the Consumer Financial Protection Bureau, the Department of Health and Human Services and the U.S. Treasury Department in response to Agencies' request for information on medical payment products.
International
European Commission
Summer 2023 Economic Forecast: Easing growth momentum amid declining inflation and robust labour market
September 11, 2023
The European Commission has presented its Summer 2023 Economic Forecast.
Eurobarometer: Europeans approve measures taken to tackle the energy crisis, to promote sustainability and to support Ukraine
September 11, 2023
The recent Flash Eurobarometer survey shows an overwhelming support among Europeans for the measures taken over the last year to protect consumers and companies from volatility of energy prices, as well as action to foster energy security and the green transition.
European Banking Authority
EBA issues revised list of ITS validation rules
September 11, 2023
The European Banking Authority issued a revised list of validation rules in its Implementing Technical Standards (ITS) on supervisory reporting, highlighting those, which have been deactivated either for incorrectness or for triggering IT problems.
Bank of England
Speech: Inflation models and research: distilling dynamics for monetary policy decision-making
September 11, 2023
Bank of England Monetary Policy Committee Member Catherine L. Mann gave a speech entitled, "Inflation models and research: distilling dynamics for monetary policy decision-making."
Administration Changes
Vacancies
Board of Governors of the Federal Reserve System
- Vice Chair – Vacant (Vice Chair Leal Brainard resigned effective on or around February 20, 2023)
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 (nominated May 12, 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 May 23, 2022)
- Governor Adriana Kugler (nominated May 12, 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.
