PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Monday, November 10, 2025
November 10, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
U.S. Department of the Treasury
Treasury Orders Department-Wide Investigation Into Potential Fraud Across Contracting Programs
November 7, 2025
The U.S. Department of the Treasury announced a comprehensive audit of all contracts and task orders awarded under preference-based contracting, totaling approximately $9 billion in contract value across Treasury and its bureaus.
Federal Reserve Board
Treasury Releases G.19 Consumer Credit Data
November 7, 2025
The Federal Reserve Board released the G.19 consumer credit data for September 2025.
Speech: ‘A Global Stablecoin Glut: Implications for Monetary Policy’
November 7, 2025
Federal Reserve Board Governor Stephen I. Miran gave a speech titled “A Global Stablecoin Glut: Implications for Monetary Policy” at the BCVC Summit 2025 at the Harvard Club inNew York.
Speech: ‘AI and the Economy’
November 7, 2025
Federal Reserve Board Vice Chair Philip N. Jefferson gave a speech titled “AI and the Economy” at Deutsche Bundesbank’s Euro20+ event in Frankfurt.
Federal Reserve Bank of New York
Short-Term Inflation Expectations Decline; Labor Market Expectations Mixed
November 7, 2025
The Federal Reserve Bank of New York’s Center for Microeconomic Data released the October 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations decreased at the short-term horizon and remained unchanged at the medium- and longer-term horizons.
Speech: ‘Theory and Practice of Monetary Policy Implementation’
November 7, 2025
Federal Reserve Bank of New York President and CEO John C. Williams gave a speech titled “Theory and Practice of Monetary Policy Implementation” at the ECB Conference on Money Markets 2025 in Frankfurt.
Federal Reserve Bank of Boston
Paper: ‘The Beige Book’s Value for Forecasting Recessions’
November 7, 2025
The Federal Reserve Bank of Boston published a working paper titled “The Beige Book’s Value for Forecasting Recessions.”
Federal Deposit Insurance Corporation
FDIC Updates Consumer Compliance Manual and Examination Schedule
November 7, 2025
The FDIC’s Consumer Compliance Examination Manual has been revised to reflect an updated examination frequency schedule whereby consumer compliance examinations and Community Reinvestment Act evaluations will occur less frequently for most institutions.
U.S. Department of Education
DOE Concludes Negotiated Rulemaking Session to Implement One Big Beautiful Bill Act’s Loan Provisions
November 6, 2025
The U.S. Department of Education (DOE) concluded its negotiated rulemaking session in which the Reimagining and Improving Student Education Committee reached consensus on the entire package of federal student loan-related changes advanced by the One Big Beautiful Bill Act.
International
European Commission
Survey: Europeans Continue to View Democracy and Economic Power as EU’s Main Strengths
November 6, 2025
The latest Flash Eurobarometer survey on “EU challenges and priorities” showed that respect for democracy, human rights and the rule of law, and the economic, industrial and trading power of the EU remain the EU’s main strengths, followed by the good relationships and solidarity between its Member States.
European Banking Authority
EBA Launches ISDA SIMM Data Collection
November 7, 2025
The European Banking Authority launched a data collection through the competent authorities to obtain the list of EU counterparties that will be required to apply to the EBA for validation of ISDA SIMM, as well as their contact persons.
Bank of England
Market Participants Survey Results — November 2025
November 7, 2025
The Bank of England released the Market Participants survey for November 2025.
Bank Releases Minutes of the SONIA Stakeholder Advisory Group Meeting
November 7, 2025
The Bank of England released the minutes of the Sonia Stakeholder Advisory Group meeting held Oct. 22.
Speech: ‘The evolving liquidity landscape’
November 7, 2025
Bank of England Executive Director Victoria Saporta gave a speech titled “The evolving liquidity landscape.”
Market Notice: ‘Update to Level A pricing in the Indexed Long-Term Repo Operation’
November 7, 2025
The Bank of England released a market notice titled “Update to Level A pricing in the Indexed Long-Term Repo Operation.”
Financial Conduct Authority
Payments Vision Delivery Committee Sets Out New Payments Strategy
November 7, 2025
The Payments Vision Delivery Committee has published its strategy for the next generation of U.K. retail payments infrastructure.
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 Christopher J. Waller (sworn in December 18, 2020)
- Governor Lisa D. Cook (sworn in September 13, 2022 – SCOTUS hearing on purported termination to be held in January 2026)
- Stephen Miran (sworn in September 16, 2025)
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 Jonathan Gould (Comptroller of the Currency)
- Director Russel Vought (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Jonathan Gould (effective July 15, 2025)
Securities and Exchange Commission – Paul Atkins (effective April 9, 2025)
Commodity Futures Trading Commission – Caroline D. Pham (Acting Chairman effective January 20, 2025)
Consumer Financial Protection Bureau – 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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