Daily Financial Regulation Update -- Tuesday, October 7, 2025

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Federal Agencies

Federal Reserve Bank of New York

Blog: ‘A Country‑Specific View of Tariffs’

October 6, 2025

The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “A Country-Specific View of Tariffs.”

• Blog

 

Office of the Comptroller of the Currency

OCC Announces Actions to Reduce Regulatory Burden for Community Banks

October 6, 2025

The Office of the Comptroller of the Currency announced guidance to banks and proposed rulemakings to reduce regulatory burden for community banks.

• Examinations Bulletin
• Retail Nondeposit Investment Products Bulletin
• Model Risk Management Bulletin
• Rescission of 12 CFR 27 Bulletin
• Rescission of 12 CFR 27 Proposed Rule
• Community Bank Licensing Amendments Bulletin
• Community Bank Licensing Amendments Proposed Rule
• Press Release

 

Bank Policy Institute

Blog: ‘Unlocking the Discount Window’

October 6, 2025

The Bank Policy Institute published a blog post titled “Unlocking the Discount Window.”

• Blog

 

International

European Banking Authority

EU Supervisory Authorities Warn Consumers of Risks in Crypto Investments

October 6, 2025

The European Supervisory Authorities (EBA, EIOPA and ESMA — collectively, the ESAs) issued a warning  to consumers that crypto-assets can be risky and that legal protection, if any, may be limited depending on which crypto-assets they invest in.

• Revised Warning
• Press Release

 

Bank of England

Speech: ‘Investment in Scotland’

October 6, 2025

Bank of England Governor Andrew Bailey gave a speech titled “Investment in Scotland” at the Scotland Global Investment Summit 2025.

• Speech

 

Minutes of the London FXJSC Main Committee Meeting

October 6, 2025

The Bank of England released the minutes of the London Foreign Exchange Joint Standing Committee main meeting held March 13, 2025.

• Minutes

 

Minutes of the London FXJSC Legal Subcommittee Meeting

October 6, 2025

The Bank of England released the minutes of the London Foreign Exchange Joint Standing Committee Legal Sub-Committee meeting held March 5, 2025.

• Minutes

 

Financial Conduct Authority

Regulators Join Forces to Tackle Poor Claims Management Practices

October 6, 2025

The Financial Conduct Authority, Solicitors Regulation Authority, Information Commissioner’s Office and the Advertising Standards Authority are joining forces to tackle misleading advertising and inadequate information provided by some claims management companies (CMCs) and law firms working on motor finance claims. The regulators also aim to address the risk that excessive fees are charged to clients.

• Press Release

 

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; purportedly terminated August 25, 2025)
• 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)

• 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 – 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