PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, July 11, 2025
July 11, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
Federal Reserve Board
Federal Reserve Board requests comment on targeted proposal to revise its supervisory rating framework for large bank holding companies to address the "well managed" status of these firms
July 9, 2025
The Federal Reserve Board requested comment on a targeted proposal to revise its supervisory rating framework for large bank holding companies to address the "well managed" status of these firms.
- Proposed Rule
- Board Memo
- Press Release
- Vice Chair Bowman Statement
- Governor Barr Statement
- Governor Cook Statement
- Governor Kugler Statement
Congress
U.S. Senate
Committee on Banking, Housing, and Urban Affairs
Hearing: From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets
July 9, 2025
The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets.”
- Hearing
- Chair Scott Statement
- Ranking Member Waters Statement
- NY Attorney General James Written Testimony
Federal Agencies
Speech: Demystifying the Federal Reserve's Balance Sheet
July 10, 2025
Federal Reserve Board Governor Christopher J. Waller gave a speech entitled, “Demystifying the Federal Reserve's Balance Sheet,” at the Federal Reserve Bank of Dallas.
Working Paper: What Determines Household Expectations?
July 10, 2025
The Federal Reserve Board published a working paper entitled, “What Determines Household Expectations?”
Federal Reserve Bank of New York
Blog: The Rise in Deposit Flightiness and Its Implications for Financial Stability
July 10, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, “The Rise in Deposit Flightiness and Its Implications for Financial Stability.”
National Credit Union Administration
NCUA Issues Notice of Voluntary EGRPRA Review
July 10, 2025
The National Credit Union Administration announced the next step in its plans to voluntarily review agency regulations to identify rules that are outdated, unnecessary, and unduly burdensome to federally insured credit unions.
Ginnie Mae
Global Markets Analysis Report – June 2025
July 10, 2025
Ginnie Mae published the June 2025 Global Markets Analysis Report.
Bank Policy Institute
Blog: No, the eSLR Proposal Doesn’t Undermine Bank Resilience
July 10, 2025
The Bank Policy Institute published a blog post entitled, “No, the eSLR Proposal Doesn’t Undermine Bank Resilience.”
International
Bank of England
Speech: Weathering the storm: stability in a changing climate
July 10, 2025
Bank of England Deputy Governor Sarah Breeden gave a speech entitled, “Weathering the storm: stability in a changing climate.”
Artificial Intelligence Consortium minutes – May 2025
July 10, 2025
The Bank of England released the minutes of the Artificial Intelligence Consortium meeting in May 2025.
Financial Conduct Authority
FCA to modernize rules to unlock investment
July 10, 2025
The Financial Conduct Authority is planning to review its client categorization rules to unlock more opportunities for wealthy investors and support capital markets, driving economic growth.
FCA published annual report
July 10, 2025
The Financial Conduct Authority published its annual report and accounts.
Administration Changes
Vacancies
Appointments
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 Michelle W. Bowman (sworn in June 9, 2025)
- Governor 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 – 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 (confirmed July 10, 2025)
Securities and Exchange Commission – Paul Atkins (effective April 9, 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 19, 2025)
U.S. Department of Housing and Urban Development – Scott Turner (effective February 5, 2025)
Federal Housing Finance Agency – William Pulte (effective March 13, 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 theConsolidated 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
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