PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, August 7, 2025
August 07, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
Subscribe to PH FedACTion: Financial Regulatory Updates
Subscribe to the PHFintech: Crypto Policy Tracker
Federal Agencies
Federal Reserve Board
Paper: Mega Firms and New Technological Trajectories in the US
August 6, 2025
The Federal Reserve Board published a discussion paper entitled “Mega Firms and New Technological Trajectories in the U.S.”
Securities and Exchange Commission
Staff Issues FAQs to Help Broker-Dealers Implement Financial Responsibility Requirements Related to US Treasury Clearing
August 6, 2025
The Securities and Exchange Commission’s Division of Trading and Markets issued answers to frequently asked questions that broker-dealers have posed to the staff regarding rule amendments to the customer protection rule related to the clearing of U.S. Treasury securities.
Financial Crimes Enforcement Network
FinCEN Convenes Public-Private Partnership to Promote Innovation and Address Fraud and Scam Risks in the Digital Assets Ecosystem
August 6, 2025
On July 15, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) brought together Treasury components, law enforcement agencies, financial institutions, regulatory technology companies and trade groups to share insights on driving innovation in the digital assets ecosystem while protecting consumers from emerging fraud and scam threats.
National Credit Union Administration
The NCUA Launches Webpage Providing Tips for the Examination Document Request Process
August 6, 2025
The National Credit Union Administration launched a webpage on ncua.gov that provides tips for how examiners and credit unions can coordinate and improve the efficiency and effectiveness of the examination document request process.
US Small Business Administration
SBA Announces New Regional Innovation Cluster Funding to Support Domestic Manufacturing
August 6, 2025
The U.S. Small Business Administration has announced the availability of new Regional Innovation Cluster (RIC) funding of up to $7.5 million to support domestic manufacturers.
Freddie Mac
Freddie Mac Expands Financing Options to Increase Availability of Affordable Housing
August 6, 2025
Freddie Mac will expand its CHOICEHome conventional financing options to include modern single-section factory-built homes.
International
European Banking Authority
The EBA Issues a No-Action Letter on the Application of ESG Disclosure Requirements and Updates the EBA ESG Risks Dashboard With December 2024 Data
August 6, 2025
The European Banking Authority (EBA) published a no-action letter on the application of the ESG Pillar 3 disclosure requirements under the EBA disclosure Implementing Technical Standards.
The EBA Publishes Its Final Draft Technical Standards on the Equivalent Legal Mechanism for Unfinished Property Exposures Under the Standardized Approach for Credit Risk
August 6, 2025
The EBA published its final Regulatory Technical Standards (RTS) specifying what constitutes an “equivalent legal mechanism” for unfinished property exposures under the Capital Requirements Regulation.
Bank of England
Minutes of the Meeting of the Court of Directors Held on June 6, 2025
August 6, 2025
The Bank of England released the minutes of the Court of Directors meeting held June 6, 2025.
Financial Conduct Authority
Review: Climate Reporting by Asset Managers, Life Insurers and FCA-Regulated Pension Providers
August 6, 2025
The Financial Conduct Authority (FCA) released a multifirm review entitled “Climate reporting by asset managers, life insurers and FCA-regulated pension providers.”
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 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 (effective July 15, 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
Practice Areas
For More Information