Congress
U.S. House of Representatives
Committee on Small Business
Committee on Small Business Announces February Hearing Schedule
January 23, 2024
The U.S. House Committee on Small Business announced its February hearing schedule.
Full Committee Hearing: "Under the Microscope: Reviewing the SBA's Small Business Size Standards"
Date & Time: Tuesday, February 6th at 10:00 AM ET
Location: Hearing Room, 2360 Rayburn House Office Building
Full Committee Hearing: "Burdensome Regulations: Examining the Impact of EPA Regulations on Main Street"
Date & Time: Wednesday, February 14th at 10:00 AM ET
Location: Hearing Room, 2360 Rayburn House Office Building
Subcommittee on Contracting and Infrastructure Hearing: "Leveling the Playing Field: Challenges Facing Small Business Contracting"
Date & Time: Thursday, February 15th at 10:00 AM ET
Location: Hearing Room, 2360 Rayburn House Office Building
Federal Agencies
U.S. Department of the Treasury
United States, Australia, and the United Kingdom Sanction Russian Cyber Actor Responsible for the Medibank Hack
January 23, 2024
The Department of the Treasury's Office of Foreign Assets Control, in coordination with Australia and the United Kingdom, designated Alexander Ermakov, a cyber actor who played a pivotal role in the 2022 ransomware attack against Medibank Private Limited, an Australian healthcare insurer.
FINRA
FINRA Publishes Crypto Asset Communications Sweep Update
January 23, 2024
FINRA has identified potential violations of FINRA Rule 2210 (Communications with the Public) in 70 percent of crypto asset communications it reviewed, according to a report published today on the results of a targeted exam.
Fannie Mae
Fannie Mae Announces Single-Family Social Bond Framework
January 23, 2024
Fannie Mae announced the launch of its Single-Family Social Bond Framework and updates to disclosures for the company's Single-Family mortgage-backed securities (MBS), aimed to further support access to credit and affordable housing as part of its mission and goals.
Freddie Mac
Freddie Mac Releases Updated Single-Family Social Bond Framework
January 23, 2024
Freddie Mac announced its updated Single-Family Social MBS and Corporate Debt Bonds Framework, which includes updates to its mortgage-backed securities (MBS) disclosures.
Economic, Housing and Mortgage Market Outlook – January 2024
January 23, 2024
Freddie Mac released the Economic, Housing and Mortgage Market Outlook for January 2024.
International
Bank of England Prudential Regulation Authority
Consultation Paper: Solvent exit planning for insurers
January 23, 2024
The Prudential Regulation Authority published a consultation paper entitled, "Solvent exit planning for insurers."
Financial Conduct Authority
Speech: Leaning in on making consumer tech a force for good
January 23, 2024
Financial Conduct Authority Chief Executive Office Nikhil Rathi gave a speech entitled, "Leaning in on making consumer tech a force for good," at the Imperial College London Business School.
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.
