PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, August 25, 2021
August 25, 2021
FedACTion Task Force
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Click here to read more from our Coronavirus series.
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.
Federal Reserve Board
Paper: A Monetary-Fiscal Theory of Sudden Inflations and Currency Crises
August 24, 2021
The Federal Reserve Board published a paper titled, "A Monetary-Fiscal Theory of Sudden Inflations and Currency Crises."
Paper: Domestic Lending and the Pandemic: How Does Banks' Exposure to COVID-19 Abroad Affect Their Lending in the United States?
August 24, 2021
The Federal Reserve Board published a paper titled, "Domestic Lending and the Pandemic: How Does Banks' Exposure to COVID-19 Abroad Affect their Lending in the United States," studying how U.S. banks' exposure to the economic fallout due to governments' response to COVID-19 in foreign countries has affected their credit provision to borrowers in the United States.
European Banking Authority
EBA Publishes Peer Review on the Prudential Assessment of Qualifying Holdings
August 24, 2021
The European Banking Authority (EBA) published its peer review on the prudential assessment of qualifying holdings, aiming at assessing competent authorities' application of the Joint European Supervisory Authorities (ESAs) Guidelines on the prudential assessment of the acquisition of qualifying holdings.
Department of the Treasury - Janet Yellen (effective January 26, 2021)
Consumer Financial Protection Bureau - Rohit Chopra (Nominee)
- Acting Director: Dave Uejio (January 20, 2020)
- Confirmation hearing held on March 2, 2021
- Committee approval March 10, 2021
Securities and Exchange Commission - Gary Gensler (effective April 17, 2021)
- Renee Jones to Join SEC as Director of Corporation Finance; John Coates Named SEC General Counsel (June 14, 2021)
- Daniel S. Kahl Appointed Acting Director of the Division of Examinations; Peter B. Driscoll to Depart Agency (July 14, 2021)
Small Business Administration - Isabella Casillas Guzman (effective March 16, 2021)
- Small Business Committee Advances SBA Deputy Administrator Nominee Dilawar Syed (June 17, 2021)
- U.S. Small Business Administration Announces Key Staff (August 18, 2021)
Commodity Futures Trade Commission
Financial Crimes Enforcement Network
National Credit Union Administration - Todd M. Harper
Department of Housing and Urban Development - Marcia Fudge (effective March 10, 2021)
Department of Education - Dr. Miguel Cardona (effective March 2, 2021)