PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday, November 18, 2025
November 18, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Speech: ‘Economic Outlook and Monetary Policy’
November 17, 2025
Federal Reserve Board Vice Chair Philip N. Jefferson gave a speech titled “Economic Outlook and Monetary Policy.”
Speech: ‘The Case for Continuing Rate Cuts’
November 17, 2025
Federal Reserve Board Governor Christopher J. Waller gave a speech titled “The Case for Continuing Rate Cuts.”
Federal Reserve Bank of New York
SCE Credit Access Survey — October 2025
November 17, 2025
A Federal Reserve Bank of New York survey found that consumers’ overall rejection rates for credit reached a series high, with application rates stable.
Empire State Manufacturing Survey — November 2025
November 17, 2025
The Federal Reserve Bank of New York released the November 2025 Empire State Manufacturing Survey.
Federal Deposit Insurance Corporation
National Rates and Rate Caps — November 2025
November 17, 2025
The Federal Deposit Insurance Corporation released the national rates and rate caps for November 2025.
Securities and Exchange Commission
SEC Division of Examinations Announces 2026 Priorities
November 17, 2025
The SEC’s Division of Examinations released its 2026 examination priorities.
Statement: Division of Corporation Finance’s Role in Exchange Act Rule 14a-8 Process for Current Proxy Season
November 17, 2025
The SEC’s Division of Corporation Finance has determined to not respond to no-action requests for, and express no views on, companies’ intended reliance on any basis for exclusion of shareholder proposals under Rule 14a-8, other than no-action requests to exclude a proposal under Rule 14a-8(i)(1).
Freddie Mac
Freddie Mac Announces Enhanced Technology to Boost Loan Quality
November 17, 2025
Freddie Mac announced next-generation automation technology to streamline and strengthen its Single-Family quality control (QC) process.
Bank Policy Institute
Blog: ‘A Closer Look: Stablecoins’ Effects on Bank Deposits’
November 17, 2025
The Bank Policy Institute published a blog post titled “A Closer Look: Stablecoins’ Effects on Bank Deposits.”
International
European Commission
Forecast Shows Continued Growth Despite Challenging Environment
November 17, 2025
The European Commission’s Autumn 2025 Economic Forecast shows that growth in the first three quarters of 2025 outperformed expectations.
Bank of England Prudential Regulation Authority
Life Insurance Stress Test: 2025 Results
November 17, 2025
The Prudential Regulation Authority released the results of the first exercise conducted under the new Solvency U.K. regulatory regime.
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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