Congress
U.S. House of Representatives
Committee on Financial Services
Hearing: Regulatory Whiplash: Examining the Impact of FSOC's Ever-Changing Designation Framework on Innovation
January 10, 2024
The U.S. House Committee on Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion held a hearing entitled, "Regulatory Whiplash: Examining the Impact of FSOC's Ever-Changing Designation Framework on Innovation."
Hearing: Examining the DOL Fiduciary Rule: Implications for Retirement Savings and Access
January 10, 2024
The U.S. House Committee on Financial Services Subcommittee on Capital Markets held a hearing entitled, "Examining the DOL Fiduciary Rule: Implications for Retirement Savings and Access."
Federal Agencies
U.S. Department of the Treasury
Remarks by Secretary Yellen at Roxbury Community College
January 10, 2024
Secretary of the Treasury Janet L. Yellen gave remarks about the economy at Roxbury Community College in Boston, Massachusetts.
Federal Reserve Board
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Federal Bank Regulatory Agencies Release Overview Webinar of New Community Reinvestment Act Regulations
January 10, 2024
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued an overview webinar on the final rule to strengthen and modernize regulations implementing the Community Reinvestment Act.
Federal Reserve Bank of New York
Speech: Rules of Three
January 10, 2024
Federal Reserve Bank of New York John C. Williams gave a speech entitled, "Rules of Three," on his economic outlook and monetary policy at the Bronx EDC and BICNY's 2024 Regional Economic Outlook.
Blog: An Overlooked Factor in Banks' Lending to Minorities
January 10, 2024
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, "An Overlooked Factor in Banks' Lending to Minorities."
Office of the Comptroller of the Currency
Securities and Exchange Commission
Risk Alert: Observations Related to Security-Based Swap Dealers
January 10, 2024
The Securities and Exchange Commission's Division of Examinations published a Risk Alert presenting examination and outreach observations concerning compliance with rules applicable to security-based swap dealers.
FINRA
FINRA Foundation Research Examines Investors of Color
January 10, 2024
The FINRA Investor Education Foundation (FINRA Foundation) has released a new report, "Investors of Color in the United States."
International
Bank of England
Treasury Select Committee Holds Hearing on the December Financial Stability Report
January 10, 2024
Bank of England Governor Andrew Bailey, Deputy Governor Sarah Breeden, and Financial Policy Committee Members Jonathan Hall and Carolyn A. Wilkins gave witness testimony at hearing of the Treasury Select Committee on the December Financial Stability Report.
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.
