Federal Agencies

Federal Deposit Coverage Company

The FDIC Updates its Enforcement Steps Manual relating to Bare minimum Expectations for Termination of Cease-and-Desist and Consent Orders

July 25, 2022

The Federal Deposit Insurance Company (FDIC) has up-to-date its Official and Casual Enforcement Steps Manual (guide) to tackle the FDIC’s minimum benchmarks for terminating cease and desist and consent orders issued underneath Section 8(b) of the Federal Deposit Insurance Act.

Workplace of the Comptroller of the Currency

OCC Solicits Exploration on Implications of Financial Know-how for Banking

July 25, 2022

The Workplace of the Comptroller of the Forex is soliciting academic-and plan-targeted analysis on the effects of economical know-how entities and nonbanks on banking and the marketplaces for lending, deposit-having and payment providers by way of August 21, 2022.

Securities and Exchange Commission

Joint Assertion: Commissioners Peirce and Uyeda Remark on the Economic Accounting Basis Draft Strategic Plan

July 25, 2022

Securities and Exchange Commissioners Hester M. Peirce and Mark T. Uyeda issued a joint statement commenting on the Financial Accounting Foundation’s Strategic System Draft.

Commodity Futures Investing Fee

Keynote Tackle of Chairman Rostin Behnam at the Brookings Institution Webcast on The Future of Crypto Regulation

July 25, 2022

Commodity Futures Trading Commission Chair Rostin Behnam gave the keynote tackle at the Brookings Institution Webcast on the Long run of Crypto Regulation.

International

Financial institution of England

Asset Purchase Facility Quarterly Report – 2022 Q2

July 25, 2022

The Bank of England published the Q2 2022 Asset Purchase Facility Quarterly Report.

Administration Modifications

Vacancies

Federal Deposit Insurance coverage Company

  • Chair – Vacant (Martin Gruenberg serves as Acting Chair)
  • Vice Chairman – Vacant

Business of the Comptroller of the Currency

  • Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)

Appointments/Confirmation Hearings

U.S. Section of the Treasury – Janet Yellen (successful January 26, 2021)

Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)

  • Vice Chair Lael Brainard (sworn in May possibly 23, 2022)
  • Vice Chair for Supervision Michael Barr (sworn in July 19, 2022)
  • Governor Phillip N Jefferson (sworn in May perhaps 23, 2022)
  • Governor Lisa D. Cook dinner (sworn in May well 23, 2022)
  • Assertion by Federal Reserve Board Chair Jerome H. Powell on his nomination by President Biden (November 22, 2021)
  • Statement by Governor Lael Brainard on her nomination by President Biden (November 22, 2021) (sworn in Could 23, 2022)
  • Secretary of the Treasury Janet L. Yellen Statement on Federal Reserve Nominations (November 22, 2021)
  • Statement by Secretary Walsh on Federal Reserve Nominations (November 22, 2021)
  • Brown Statement on the Renomination of Jerome Powell for Fed Chair (November 22, 2021)
  • Toomey Statement on Renomination of Jerome Powell for Fed Chair (November 22, 2021)
  • Brown Applauds Biden’s Nomination of Governor Lael Brainard for Vice Chair (November 22, 2021)
  • Brown Applauds Biden’s Nominees for Fed Board (January 14, 2022)
  • Toomey Statement on President Biden’s Fed Nominees (January 14, 2022)
  • Waters Applauds Nominations of Sarah Bloom Raskin, Lisa Prepare dinner, and Philip Jefferson to Leadership Roles in the Federal Reserve (January 14, 2022)
  • Statement by Secretary of the Treasury Janet L. Yellen on Federal Reserve Nominations (January 14, 2022)
  • Senate Banking Committee Chair Brown Statement on Nomination of Dr. Lisa Cook dinner (March 29, 2022)
  • Senate Banking Committee Position Member Toomey Assertion on Nomination of Dr. Lisa Cook dinner (March 29, 2022)
  • Senate Banking Committee Chair Brown Statement on Nomination of Michael Barr for Federal Reserve Vice Chair for Supervision (April 15, 2022)
  • Senate Banking Committee Position Member Toomey Assertion on Nomination of Michael Barr for Federal Reserve Vice Chair for Supervision (April 15, 2022)
  • Senate Banking Committee Chair Assertion on Senate Confirmation of Dr. Lisa Cook dinner (May possibly 10, 2022)
  • Senate Banking Committee Rating Member Assertion on Senate Affirmation of Dr. Lisa Cook dinner (Might 10, 2022)
  • Jerome H. Powell sworn in for second term as Chair of the Board of Governors of the Federal Reserve Process (Might 23, 2022)
  • Lael Brainard sworn in as Vice Chair of the Board of Governors of the Federal Reserve System (May perhaps 23, 2022)
  • Lisa D. Cook sworn in as a member of the Board of Governors of the Federal Reserve Technique (May possibly 23, 2022)
  • Philip N. Jefferson sworn in as a member of the Board of Governors of the Federal Reserve Process (May 23, 2022)
  • Senate Banking Committee Chair Statement Forward of Confirmation Vote for Michael Barr (July 13, 2022)
  • President Biden Statement on Affirmation of Michael Barr as Fed Vice Chair (July 13, 2022)
  • CSBS President and CEO Statement on Affirmation of Michael Barr as Vice Chair (July 14, 2022)
  • Michael S. Barr sworn in as Vice Chair for Supervision of the Board of Governors of the Federal Reserve Procedure (July 19, 2022)

Federal Reserve Lender of New York – John C. Williams (efficient June 18, 2018)

Federal Deposit Insurance policy Corporation – Martin Gruenberg (Performing Chair, appointed February 5, 2022)

Customer Economic Security Bureau – Rohit Chopra (powerful October 12, 2021)

Securities and Trade Fee – Gary Gensler (efficient April 17, 2021)

Little Small business Administration – Isabella Casillas Guzman (productive March 16, 2021)

Commodity Futures Trade Commission – Rostin Behnam (successful December 17, 2021)

  • Kristin Johnson, Nominee for Commissioner of the Commodity Futures Investing Commission (September 13, 2021)
  • Christy Goldsmith Romero, Nominee for Commissioner of the Commodity Futures Investing Commission (September 13, 2021)
  • U.S. Senate Unanimously Confirms Behnam as Chairman (December 17, 2021)
  • CFTC Chairman Rostin Behnam Announces Government Personnel Appointments (January 20, 2022)
  • CFTC Chairman Rostin Behnam Appoints Initial CFTC Leadership (January 25, 2022)
  • Statement of CFTC Chairman Rostin Behnam on the U.S. Senate Confirmations of Christy Goldsmith Romero, Kristin N. Johnson, Summer time Kristine Mersinger, and Caroline D. Pham (March 29, 2022)
  • CFTC Commissioner Pham Announces Initial Employees Appointments (April 22, 2022)
  • CFTC Commissioner Goldsmith Romero Announces Staff members Appointments (April 27, 2022)
  • CFTC Commissioner Pham Announces Additional Workers Appointments (May possibly 13, 2022)
  • CFTC Commissioner Mersinger Announces Team Appointments (Could 16, 2022)

Money Crimes Enforcement Community

National Credit rating Union Administration – Todd M. Harper

U.S. Division of Housing and City Growth – Marcia Fudge (powerful March 10, 2021)

Federal Housing Finance Agency – Sandra L. Thompson, (confirmed May possibly 25, 2022)

U.S. Section of Education and learning – Dr. Miguel Cardona (effective March 2, 2021)

PH Consumer Alerts

Simply click right here to read far more from our Coronavirus series.

Legislation/Legislative Updates

Simply click below to watch the comprehensive text of the Coronavirus Aid, Reduction and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.

Click here to check out the total text of the Paycheck Safety Plan Enhance Act of 2020, Enacted April 24, 2020.

Simply click right here to watch the entire textual content of the Paycheck Security Software Adaptability Act of 2020, Enacted June 5, 2020.

Simply click below to see the comprehensive textual content of the Consolidated Appropriations Act, 2021, Enacted December 27, 2020.

Click on in this article to see the full textual content of the American Rescue System of 2021, Enacted March 11, 2021.

Click right here to perspective the complete textual content of the PPP Extension Act of 2021, Enacted March 30, 2021.

Click right here to perspective a operating checklist of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Little Enterprise and Entrepreneurship, Residence Committee on Money Expert services, and Property Committee on Modest Business.

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