Daily Financial Regulation Update -- Tuesday, May 27, 2025

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Federal Agencies

Federal Reserve Board

Remarks: Chair Powell’s Remarks to the Princeton University Class of 2025

May 25, 2025

Federal Reserve Board Chair Jerome Powell gave the graduation speech at Princeton University

• Speech

 

Speech: A View on Financial Stability

May 23, 2025

Federal Reserve Board Governor Lisa D. Cook gave a speech entitled, “A View on Financial Stability,” at the Seventh Annual Women in Macro Conference cosponsored by New York University’s Graduate School of Arts & Science, New York University’s Stern School of Business and University of Chicago’s Becker Friedman Institute for Economics in New York, New York.

• Speech

 

International

European Banking Authority

The EBA Issues Opinion on a Measure to Address Macroprudential Risk Following a Notification by the Norwegian Ministry of Finance

May 23, 2025

The European Banking Authority published an Opinion following a notification by the Norwegian Ministry of Finance of its intention to change the calibration of a measure originally introduced on December 31, 2020 and already extended until June 30, 2025.

• Opinion

 

Bank of England

Working Paper: Improving Text Classification: Logistic Regression Makes Small LLMs Strong and Explainable ‘Tens-of-Shot’ Classifiers

May 23, 2025

The Bank of England published a staff working paper entitled, “Improving text classification: logistic regression makes small LLMs strong and explainable ‘tens-of-shot’ classifiers.”

• Paper

 

Financial Conduct Authority

Speech: Rebalancing Risk to Fuel Growth

May 23, 2025

Financial Conduct Authority Director of Market Oversight Dominic Holland gave a speech entitled, “Rebalancing risk to fuel growth,” at the Association of Corporate Treasurers Annual Conference 2025.

• Speech

 

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 Bowman (nominated March 17, 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 (nominated February 11, 2025); Rodney E. Hood (Acting Comptroller effective February 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