PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Monday, June 2, 2025
June 02, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
Securities and Exchange Commission
Statement on Certain Protocol Staking Activities
May 29, 2025
The Securities and Exchange Commission’s Division of Corporation Finance released a statement regarding protocol staking activities related to crypto assets.
Federal Agencies
U.S. Department of the Treasury
Treasury Releases Request for Information related to the Executive Order 14247 “Modernizing Payments To and From America’s Bank Account”
May 30, 2025
The U.S. Department of the Treasury released a request for information related to the Executive Order (EO) 14247 “Modernizing Payments To and From America’s Bank Account,” which transitions federal disbursements to electronic payments.
Federal Reserve Board
Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances
May 30, 2025
The Federal Reserve Board released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances.
Working Paper: Market Liquidity in Treasury Futures Market During March 2020
May 30, 2025
The Federal Reserve Board published a working paper entitled, “Market Liquidity in Treasury Futures Market During March 2020.”
Federal Deposit Insurance Corporation
Summary of Deposits Survey and Filing for June 30, 2025
May 30, 2025
The Federal Deposit Insurance Corporation released a Financial Institution Letter regarding the Summary of Deposits annual survey of branch office deposits as of June 30, 2025.
National Credit Union Administration
NCUA Chairman Kyle S. Hauptman's Prepared Remarks for the May 2025 Open Meeting of the Financial Literacy and Education Commission
May 29, 2025
National Credit Union Administration Chairman Kyle S. Hauptman gave remarks at the May 2025 open meeting of the Financial Literacy and Education Commission.
Federal Housing Finance Agency
Foreclosure Prevention, Refinance, and Federal Property Manager's Report - February 2025
May 30, 2025
The Federal Housing Finance Agency released the February 2025 Foreclosure Prevention, Refinance, and Federal Property Manager's Report.
International
Bank of England
Working Paper: Modelling income risk dynamics in the UK: a parametric approach
May 30, 2025
The Bank of England released a staff working paper entitled, “Modelling income risk dynamics in the UK: a parametric approach.”
Working Paper: The positive neutral countercyclical capital buffer
May 30, 2025
The Bank of England released a staff working paper entitled, “The positive neutral countercyclical capital buffer.”
Capital Issuance - April 2025
May 30, 2025
The Bank of England released capital issuance statistics for April 2025.
Financial Conduct Authority
FCA welcomes statement supporting faster settlement of trades in funds
May 30, 2025
The Financial Conduct Authority issued a statement welcoming the statement by the Investment Association, Personal Investment Management & Financial Advice Association, and Alternative Investment Management Association supporting the faster settlement of trades in funds.
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
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