PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday, June 3, 2025
June 03, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Working Paper: How Stable are Inflation Expectations in the Euro Area? Evidence from the Euro-Area Financial Markets
June 2, 2025
The Federal Reserve Board published a working paper entitled, “How Stable are Inflation Expectations in the Euro Area? Evidence from the Euro-Area Financial Markets.”
Working Paper: Place-Based Labor Market Inequality
June 2, 2025
The Federal Reserve Board published a working paper entitled, “Place-Based Labor Market Inequality.”
Working Paper: Suitability of a County-Level Income Definition for Analysis of Lower-Income Communities
June 2, 2025
The Federal Reserve Board published a working paper entitled, “Suitability of a County-Level Income Definition for Analysis of Lower-Income Communities.”
Speech: Opening Remarks at Division of International Finance 75th Anniversary Conference
June 2, 2025
Federal Reserve Board Chair Jerome H. Powell gave opening remarks at the Division of International Finance 75th Anniversary Conference, Federal Reserve Board in Washington, D.C.
Speech: The Effects of Tariffs on the Three I’s: Inflation, Inflation Persistence and Inflation Expectations
June 1, 2025
Federal Reserve Board Governor Christopher J. Waller gave a speech entitled, “The Effects of Tariffs on the Three I’s: Inflation, Inflation Persistence, and Inflation Expectations,” at “Structural Shifts and Monetary Policy,” 2025 Bank of Korea International Conference, Bank of Korea in Seoul, South Korea.
OIG Report: The Board Can Enhance Its Approach to the Cybersecurity Supervision of Community Banking Organizations
June 2, 2025
The Office of Inspector General of the Federal Reserve Board published a report entitled, “The Board Can Enhance Its Approach to the Cybersecurity Supervision of Community Banking Organizations.”
Federal Reserve Bank of New York
Report: Information Spillovers Within Couples: Evidence from a Sequential Survey of Spouses
June 2, 2025
The Federal Reserve Bank of New York published a staff report entitled, “Information Spillovers Within Couples: Evidence from a Sequential Survey of Spouses.”
Blog: How Much Does Immigration Data Explain the Employment‑Gap Puzzle?
June 2, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, “How Much Does Immigration Data Explain the Employment‑Gap Puzzle?”
Securities and Exchange Commission
Statement: Muddying the Waters: More Confusion on Crypto Asset Security Status
May 31, 2025
Securities and Exchange Commission Commissioner Caroline A. Crenshaw released a statement regarding recent statements on crypto assets from the Crypto Task Force and Division of Corporation Finance.
Speech: Bridging the Gap: Remarks Before the Northwest Securities Institute
May 30, 2025
Securities and Exchange Commission Commissioner Hester M. Peirce gave a speech entitled, “Bridging the Gap,” before the Northwest Securities Institute.
Bank Policy Institute
Banks Urge Court to Vacate CFPB’s Section 1033 Rule
May 30, 2025
The Bank Policy Institute, Forcht Bank and the Kentucky Bankers Association filed a motion with the U.S. District Court for the Eastern District of Kentucky arguing that the CFPB’s Section 1033 rule is unlawful and should be vacated.
International
Bank of England
Speech: Quantitative Tightening and Monetary Policy Stance
June 2, 2025
Monetary Policy Committee Member Catherine L. Mann gave a speech entitled, “Quantitative tightening and monetary policy stance,” at the IF 75th anniversary conference in Washington, D.C.
Financial Conduct Authority
Research Note: Money talks: Lessons From 2 LLM Pilots on Consumer Guidance
June 2, 2025
The Financial Conduct Authority published a research note entitled, “Research Note: Money talks: Lessons from 2 LLM pilots on consumer guidance.”
Article: Tech, Trust and Teamwork: How the FCA and ICO Are Helping Innovation Take Off
June 2, 2025
Financial Conduct Authority CEO Nikhil Rathi and UK Information Commissioner John Edward published an article entitled, “Tech, trust and teamwork: how the FCA and ICO are helping innovation take off.”
Consultation Paper: Simplifying the Insurance Rules
June 2, 2025
The Financial Conduct Authority published a consultation paper entitled, “Simplifying the insurance rules.”
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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