PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, April 30, 2025
April 30, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Office of the Comptroller of the Currency
Acting Comptroller of the Currency Discusses Artificial Intelligence
April 29, 2025
Acting Comptroller of the Currency Rodney E. Hood discussed the role of artificial intelligence in financial services in recorded remarks at the National Fair Housing Alliance’s Responsible AI Symposium.
Commodity Futures Trading Commission
Acting Chairman Pham Statement on OIG Investigation of Telework Violations
April 29, 2025
Commodity Futures Trading Commission Acting Chairman Caroline D. Pham issued a statement on the CFTC Office of Inspector General (OIG) Investigation into Allegations of Telework Violations by a CFTC employee.
U.S. Small Business Administration
OIG Report: Fiscal Year 2024 Federal Information Security Modernization Act
April 29, 2025
The Office of Inspector General of the U.S. Small Business Administration released a report entitled, “Fiscal Year 2024 Federal Information Security Modernization Act.”
Fannie Mae
Forecast for Housing Activity Revised Slightly in April Outlook
April 29, 2025
Single-family home sales are expected to close 2025 at 4.86 million units and new single-family construction is expected to total approximately 964,000 units this year, according to the April 2025 Economic and Housing Outlook from the Fannie Mae Economic and Strategic Research (ESR) Group.
International
Bank of England
Speech: Renewed RTGS: Digital public infrastructure as a platform for innovation
April 29, 2025
Bank of England Deputy Governor Dave Ramsden gave a speech entitled, “Renewed RTGS: Digital public infrastructure as a platform for innovation,” at the Innovate Finance Global Summit 2025.
Financial Conduct Authority
FCA set to launch live AI testing service
April 29, 2025
The Financial Conduct Authority is seeking views from firms about how its live AI testing service can help them to deploy safe and responsible AI, which will benefit UK consumers and markets.
Speech: AI for growth – how the FCA can help
April 29, 2025
Financial Conduct Authority Chief Data, Information and Intelligence Officer Jessica Rusu gave a speech entitled, “AI for growth – how the FCA can help,” at the Innovate Finance Global Summit 2025.
Speech: Our agenda to combat market abuse
April 29, 2025
Financial Conduct Authority Joint Director of Enforcement and Market Oversight Therese Chambers gave a speech entitled, “Our agenda to combat market abuse,” at the Market Abuse and Market Manipulation Summit.
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
Contributors
