left-caret
All Insights

PH FedACTion: Financial Regulatory Updates

Daily Financial Regulation Update -- Thursday, October 20, 2022

October 20, 2022

By FedACTion Task Force

Subscribe to PH FedACTion: Financial Regulatory Updates

PH Fintech Tracker on Executive Order for Digital Assets

Federal Agencies

U.S. Department of the Treasury

Treasury Sanctions Russian Military Technology Procurement Network in Coordination with Law Enforcement Action

October 19, 2022

The U.S. Department of the Treasury's Office of Foreign Assets Control, in coordination with the U.S. Department of Justice and the Federal Bureau of Investigation, designated a Russian network that procured military and sensitive dual-use technologies from U.S. manufacturers and supplied them to Russian end-users.

Secretary of the Treasury Janet L. Yellen Convenes Multilateral Development Banks to Urge Scaled Up Infrastructure Investment and Private Sector Capital Mobilization

October 18, 2022

U.S. Secretary of the Treasury Janet L. Yellen convened leaders of the multilateral development banks and fellow G7 MDB shareholders to stretch the Multilateral Development Banks' ambition to scale up private capital mobilization in line with the G7 Partnership for Global Infrastructure and investment.

Federal Reserve Board

Paper: Climate Change and the Role of Regulatory Capital: A Stylized Framework for Policy Assessment

October 19, 2022

The Federal Reserve Board published a paper entitled, "Climate Change and the Role of Regulatory Capital: A Stylized Framework for Policy Assessment."

Beige Book – October 2022

October 19, 2022

The Federal Reserve Board published the October 2022 Beige Book.

Federal Reserve Bank of New York

New York Fed Releases Report on Strategies for Financing a Clean Energy Transition for New York's Affordable Housing

October 19, 2022

The Federal Reserve Bank of New York released a white paper recommending policy and business changes to expand the private funding available for affordable housing to upgrade heating and cooling systems and move to building-wide electrification.

Consumer Financial Protection Bureau

Issue Brief: Overdraft Fees and Economically Insecure Older Adults

October 19, 2022

The Consumer Financial Protection Bureau published an issue brief entitled, "Overdraft Fees and Economically Insecure Older Adults."

International

Bank of England

Speech: Governance of "Decentralised" Finance: Get up, Stand up!

October 19, 2022

External Financial Policy Committee member Carolyn A. Wilkins gave a speech entitled, "Governance of "Decentralised" Finance: Get up, Stand up!"

Administration Changes

Vacancies

Federal Deposit Insurance Corporation

  • Chair – Vacant (Martin Gruenberg serves as Acting Chair)
  • Vice Chairman – Travis Hill (nominated September 20, 2022)
  • Member – Jonathan McKernan (nominated September 20, 2022)

Office of the Comptroller of the Currency

  • Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)

Appointments/Confirmation Hearings

U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)

Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)

Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)

Federal Deposit Insurance Corporation – Martin Gruenberg (Acting Chair, appointed February 5, 2022)

Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)

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

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

Commodity Futures Trade Commission – Rostin Behnam (effective December 17, 2021)

Financial Crimes Enforcement Network

National Credit Union Administration – Todd M. Harper

U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)

Federal Housing Finance Agency – Sandra L. Thompson, (confirmed May 25, 2022)

U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)

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 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.

Get In Touch With Us

Contact Us