PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, July 9, 2025
July 09, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Working Paper: A Distance-based Algorithm for Defining Antitrust Markets
July 8, 2025
The Federal Reserve Board published a working paper entitled “A Distance-based Algorithm for Defining Antitrust Markets.”
G.19 Consumer Credit — May 2025
July 8, 2025
The Federal Reserve Board released the G.19 consumer credit data for May 2025.
Federal Reserve Bank of New York
Short-Term Inflation Expectations Tick Down, Household Financial Expectations Improve
July 8, 2025
The Federal Reserve Bank of New York’s Center for Microeconomic Data released the June 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations ticked down at the short-term horizon and remained unchanged at the medium- and longer-term horizons.
Blog: The Fed’s Treasury Purchase Prices During the Pandemic
July 8, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled “The Fed’s Treasury Purchase Prices During the Pandemic.”
Conference of State Bank Supervisors
Community Bankers Maintain Positive Economic Outlook
July 8, 2025
Community bankers’ optimism on the future economy is holding steady, according to the 2025 second quarter results of the Community Bank Sentiment Index (CBSI).
Bank Policy Institute
Blog: Rationalizing Federal Reserve Examination Practices: A Return to the Law
July 8, 2025
The Bank Policy Institute published a blog post entitled “Rationalizing Federal Reserve Examination Practices: A Return to the Law.”
International
European Banking Authority
The EBA Launches Consultation on its Draft Guidelines on Third-Party Risk Management With Regard to Non-ICT Related Services
July 8, 2025
The European Banking Authority launched a public consultation on the draft Guidelines on the sound management of third-party risk.
Bank of England Prudential Regulation Authority
Policy Statement: Amendments to PRA Rulebook and FCA Guidance on the De Minimis Threshold for the Loan to Income Flow Limit in Mortgage Lending
July 8, 2025
The Prudential Regulation Authority (PRA) released a policy statement entitled “Amendments to PRA Rulebook and FCA Guidance on the de minimis threshold for the Loan to Income flow limit in mortgage lending.”
Financial Conduct Authority
Finalized Guidance: The Financial Policy Committee’s Recommendation on Loan to Income Ratios in Mortgage Lending: General Guidance
July 8, 2025
The Financial Conduct Authority released finalized guidance on the Financial Policy Committee’s recommendation on loan to income ratios in mortgage lending.
Credit Information Market Study
July 8, 2025
The Financial Conduct Authority released the final report on the Credit Information Market Study.
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)
- 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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