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Daily Financial Regulation Update -- Wednesday, May 5, 2021
By FedACTion Task Force
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Department of the Treasury – Janet Yellen (effective January 26, 2021)
- Statement by Treasury Secretary Janet Yellen on Confirmation of Wally Adeyemo as Deputy Secretary (March 25, 2021)
- Treasury Announces Key Staff Appointments (April 20, 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
- Toomey Opening Statement During Chopra, Gensler Nomination Hearing (March 2, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
- Statement by Acting Chair Allison Herren Lee and Commissioners on Confirmation of Gary Gensler (April 14, 2021)
- Statement by FINRA President and CEO Robert W. Cook on Confirmation of Gary Gensler (April 14, 2021)
- Statement by Senate Committee on Banking, Housing, and Urban Affairs Chair Sherrod Brown on Confirmation of Gary Gensler (April 14, 2021)
- Statement by House Financial Services Committee Chair Maxine Waters on Confirmation of Gary Gensler (April 15, 2021)
- Gary Gensler Names Initial Executive Staff Members (April 19, 2021)
- Alex Oh Named SEC Director of Enforcement (April 22, 2021)
- SEC Names Keo Chea as Director of Public Engagement and Aisha Johnson as Director of Media Relations (April 26, 2021)
- Alex Oh Resigns from SEC; Melissa Hodgman Named Acting Director of Enforcement (April 28, 2021)
- Jessica Wachter Named SEC Chief Economist and Director of the Division of Economic and Risk Analysis (May 3, 2021)
Small Business Administration – Isabel Guzman (effective March 16, 2021)
- SBA Administrator Isabella Casillas Guzman Announces Antwaun Griffin to Serve as SBA Chief of Staff (April 1, 2021)
- Statement by Senate Committee on Small Business & Entrepreneurship Chair Ben Cardin on Nomination of Dilawar Syed as Deputy Administrator (April 21, 2021)
Commodity Futures Trade Commission
Financial Crimes Enforcement Network
- FinCEN Announces Acting Director and New Deputy Director (April 2, 2021)
- Statement from Treasury Deputy Secretary Adeyemo on Leadership Announcement (April 2, 2021)
National Credit Union Administration – Todd M. Harper
Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)
- Statement of Senate Committee on Banking, Housing, and Urban Affairs Chair Sherrod Brown on Nomination of Adrianne Todman for Deputy Secretary of HUD (March 24, 2021)
Department of Education – Dr. Miguel Cardona (effective March 2, 2011)
- U.S. Department of Education Announces More Biden-Harris Appointees (April 9, 2021)
- Statement by Secretary Cardona on President Biden's Nomination of Gwen Graham (April 16, 2021)
- Statement by Secretary Cardona on President Biden’s Nomination of Roberto J. Rodríguez (April 29, 2021)
- U.S. Department of Education Announces Richard Cordray as Chief Operating Officer of Federal Student Aid (May 3, 2021)
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.
U.S. House of Representatives
Committee on Financial Services
Built to Last: Examining Housing Resilience in the Face of Climate Change
May 4, 2021
The U.S. House Committee on Financial Services held a hearing titled “Built to Last: Examining Housing Resilience in the Face of Climate Change.”
Waters Calls on Appropriators to Fund Affordable Housing, Community Development Lending and Investments, Investor Protections and Homelessness Assistance
May 3, 2021
Congresswoman Maxine Waters (D-CA), Chairwoman of the U.S. House Committee on Financial Services, sent letters to senior Members of the House Committee on Appropriations urging them to fund the Minority Business Development Agency, the Community Development Financial Institutions Fund, the Securities and Exchange Commission, and programs that support affordable housing and address homelessness within the U.S. Department of Housing and Urban Development.
Consumer Financial Protection Bureau
CFPB Issues Reports Detailing Mortgage Borrowers’ Continuing COVID-19 Challenges
May 4, 2021
The Consumer Financial Protection Bureau (CFPB) released two reports showing that more work needs to be done to help mortgage borrowers coping with the COVID-19 pandemic and economic downturn. The first report documents that Black and Hispanic mortgage borrowers are much more likely to be delinquent or in a forbearance program than white borrowers. In a second report, the CFPB reports that overall mortgage complaints to the CFPB have risen to their highest level in three years.
Bank of England
Money and Credit - March 2021
May 4, 2021
The Bank of England (BoE) released its statistical release for March 2021 titled “Money and Credit.” The monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the BoE’s policy committees to understand economic trends and developments in the banking system.
UK Financial Conduct Authority
FCA to Require Pension Providers to Offer to Book Pension Wise Appointments for Consumers
May 4, 2021
The Financial Conduct Authority proposed new rules to require pension providers to “nudge” consumers to the Pension Wise program in order to help consumers benefit from guidance before they access their defined contribution pension savings.