Daily Financial Regulation Update -- Thursday, August 21, 2025

Subscribe to PH FedACTion: Financial Regulatory Updates
Subscribe to the PHFintech: Crypto Policy Tracker

 

Congress

U.S. Senate

Committee on Banking, Housing and Urban Affairs

Chairman Scott Discusses Future of Digital Asset Regulation at Wyoming Blockchain Symposium

August 20, 2025

Senate Banking Committee Chairman Tim Scott (R-S.C.) joined Austin Reid, global head of Revenue and Business at FalconX, for a fireside chat at the Wyoming Blockchain Symposium 2025 in Teton Village, Wyoming.

• Press Release

 

Federal Agencies

Federal Reserve Board

Federal Reserve Releases Minutes of the Federal Open Market Committee Meeting, July 29–30

August 20, 2025

The Federal Reserve released the minutes of the Federal Open Market Committee meeting that was held on July 29–30.

• Press Release
• Minutes

 

Speech: ‘Technological Advancements in Payments’

August 20, 2025

Federal Reserve Board Governor Christopher J. Waller gave a speech titled “Technological Advancements in Payments” at the Wyoming Blockchain Symposium 2025.

• Speech

 

Federal Reserve Bank of Boston

Paper: ‘Technology Providers and Financial Stability: Overview of Risks and Regulatory Frameworks’

August 20, 2025

The Federal Reserve Bank of Boston, Chicago and Dallas staff published a working paper titled “Technology Providers and Financial Stability: Overview of Risks and Regulatory Frameworks.”

• Paper
• Press Release

 

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)
• Stephen Miran (nominated August 7, 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 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 (effective July 15, 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