PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday, December 2, 2025
December 02, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Congress
U.S. House of Representatives
Financial Services Committee Issues Final Staff Report on Debanking of Digital Assets
December 1, 2025
House Committee on Financial Services Chairman French Hill (R-AR) and Oversight Subcommittee Chairman Dan Meuser (R-PA) released a final staff report titled “Operation Choke Point 2.0: Biden’s Debanking of Digital Assets.”
Committee on Small Business
Committee on Small Business Announces December Hearing Schedule
December 1, 2025
The U.S. House Committee on Small Business announced its December hearing schedule:
Full Committee Hearing: “Main Street Under Attack: The Cost of Crime on Small Businesses”
Date & Time: Tuesday, December 2, 10:00 a.m. ET
Full Committee Hearing: “From Service to Startup: Empowering Veteran Entrepreneurs”
Federal Agencies
Federal Reserve Board
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Agencies Request Input on Regulatory Reporting Burden
December 1, 2025
The Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency are requesting input on sources of regulatory reporting burden for institutions that file the Call Report.
Federal Reserve Board
Fed Publishes Supervision and Regulation Report
December 1, 2025
The Federal Reserve Board released the Supervision and Regulation Report for December 2025.
Office of the Comptroller of the Currency
OCC Maintains Assessment Rates for National Banks and Federal Savings Associations
December 1, 2025
The Office of the Comptroller of the Currency (OCC) announced that it is maintaining assessment rates for the 2026 calendar year.
Commodity Futures Trading Commission
CFTC Announces Reforms to Wells Process, Amends Rules of Practice and Rules Relating to Investigations
December 1, 2025
The Commodity Futures Trading Commission announced it is amending its Rules of Practice and Rules Relating to Investigations.
Financial Crimes Enforcement Network
FinCEN Issues Alert on Cross-Border Funds Transfers Involving Illegal Aliens
November 28, 2025
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing an alert as part of Treasury’s effort to prevent the exploitation of the U.S. financial system by illegal aliens in the United States seeking to move illicitly obtained funds.
International
Bank of England
Money and Credit — October 2025
December 1, 2025
The Bank of England released the Money and Credit statistics along with the effective interest rates for October 2025.
Working Paper: ‘Assessing risk: a toolkit for measuring regional supply-chain exposure to global shocks’
November 28, 2025
The Bank of England published a staff working paper titled “Assessing risk: a toolkit for measuring regional supply-chain exposure to global shocks.”
Working Paper: ‘Monetary policy and mortgage fixation lengths’
November 28, 2025
The Bank of England published a staff working paper titled “Monetary policy and mortgage fixation lengths.”
Bank of England Prudential Regulation Authority
O-SII Buffer Rates for Ring-Fenced Banks, Large Domestic Banks and Large Building Societies
November 28, 2025
The Prudential Regulation Authority (PRA) has set the 2025 Other Systemically Important Institutions (O-SII) buffer rates for ring-fenced banks, large domestic firms and large building societies.
PRA Releases Annual Assessment of Credit Union Sector
November 28, 2025
The PRA released the annual assessment of the credit union sector.
Financial Conduct Authority
FCA Sets Out Proposals to Make ESG Ratings Transparent, Reliable and Comparable
December 1, 2025
The Financial Conduct Authority (FCA) has published proposals to ensure that environmental, social and governance (ESG) ratings are transparent, reliable and comparable.
RegData Access Available Through My FCA
November 27, 2025
The FCA announced RegData will be available through sign in to My FCA.
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 Christopher J. Waller (sworn in December 18, 2020)
- Governor Lisa D. Cook (sworn in September 13, 2022 – SCOTUS hearing on purported termination to be held in January 2026)
- Stephen Miran (sworn in September 16, 2025)
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, nominated to be Chair September 30, 2025)
- Vice Chairman Vacant
- Director Vacant
- Director Jonathan Gould (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 – Caroline D. Pham (Acting Chairman effective January 20, 2025)
Consumer Financial Protection Bureau – 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
Practice Areas
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