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Daily Financial Regulation Update -- Monday, July 12, 2021

July 12, 2021

By FedACTion Task Force

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PH Client Alerts

Click here to read more from our Coronavirus series.

Congress

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 the Consolidated 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.

Federal Agencies

U.S. Department of the Treasury

Remarks by Secretary of the Treasury Janet L. Yellen at the Venice International Conference on Climate

July 11, 2021

U.S. Department of the Treasury Secretary Janet L. Yellen gave remarks at the Venice International Conference on Climate.

Transcript of Press Conference by Secretary Of The Treasury Janet L. Yellen Following the Close Of The G20 Finance Ministers and Central Bank Governors Meetings

July 10, 2021

The U.S. Department of the Treasury (Treasury) released a transcript of a press conference held by Secretary of the Treasury Janet L. Yellen following the close of the G20 Finance Ministers and Central Bank Governors meetings.

Statement from Secretary of the Treasury Janet L. Yellen at the Conclusion of the G20 Finance Ministers and Central Bank Governors Meetings

July 10, 2021

U.S. Department of the Treasury Secretary Janet L. Yellen gave remarks at the conclusion of the G20 Finance Ministers and Central Bank Governors Meetings.

Federal Reserve Board

Speech by Vice Chair for Supervision Quarles on the Financial Stability Board and Climate Change

July 11, 2021

Randal K. Quarles, Vice Chair for Supervision at the Board of Governors of the Federal Reserve System, gave a speech at the Venice International Conference on Climate Change titled “Disclosures and Data: Building Strong Foundations for Addressing Climate-Related Financial Risks.”

U.S. Small Business Administration

How to Partner with a Vaccine Provider, Small Business Tax Credit Info & More

July 9, 2021

The U.S. Small Business Administration (SBA) and Public Private Strategies Institute are hosting several webinars from July to August 2021 to help businesses get back on track following the COVID-19 pandemic. The next webinar will be held on July 15, 2021 at 2:00 p.m. Eastern, where businesses can learn about what steps they can take to learn and take advantage of new and existing programs that are available at the SBA.

International

European Commission

Taxation: Historic Global Agreement to Ensure Fairer Taxation of Multinational Enterprises

July 10, 2021

The European Commission announced that it welcomes the historic global agreement endorsed by G20 Finance Ministers and Central Bank Governors. 

Administration Changes

Appointments/Confirmation Hearings

Department of the Treasury - Janet Yellen (effective January 26, 2021)

Consumer Financial Protection Bureau - Rohit Chopra (Nominee)

Securities and Exchange Commission - Gary Gensler (effective April 17, 2021)

Small Business Administration - Isabella Casillas Guzman (effective March 16, 2021)

Commodity Futures Trade Commission

Financial Crimes Enforcement Network

National Credit Union Administration - Todd M. Harper

Department of Housing and Urban Development - Marcia Fudge (effective March 10, 2021)

Department of Education - Dr. Miguel Cardona (effective March 2, 2021)