PH Fintech Tracker on Executive Order for Digital Assets
Federal Agencies
Federal Reserve Board
Speech: Lessons Learned on Normalizing Monetary Policy
June 20, 2022
Federal Reserve Board Governor Christopher J. Waller gave a speech entitled, “Lessons Learned on Normalizing Monetary Policy.”
U.S. Small Business Administration
Advocacy Comments on SEC’s Proposed Climate-Related Disclosures
June 20, 2022
The U.S. Small Business Administration’s Office of Advocacy filed a comment letter with the Securities and Exchange Commission regarding the SEC’s proposed climate-related disclosures.
International
Bank of England
Financial Policy Committee confirms withdrawal of mortgage market affordability test
June 20, 2022
The Financial Policy Committee made mortgage market recommendations to the Financial Conduct Authority and Bank of England Prudential Regulatory Authority confirming that the Committee will withdraw its affordability test recommendations.
Speech: UK monetary policy in the context of global spillovers
June 20, 2022
Monetary Policy Committee Member Catherine L. Mann gave a speech entitled, “UK monetary policy in the context of global spillovers.”
Administration Changes
Vacancies
Federal Reserve Board
- Vice Chair for Supervision – Michael S. Barr nominated April 15, 2022 (Nomination Hearing held on May 19, 2022; committee approval on June 8, 2022; pending full Senate vote.)
Federal Deposit Insurance Corporation
- Chair – Vacant (Martin Gruenberg serves as Acting Chair)
- Vice Chairman – Vacant
Office of the Comptroller of the Currency
- Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)
Appointments/Confirmation Hearings
U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)
Federal Deposit Insurance Corporation – Martin Gruenberg (Acting Chair, appointed February 5, 2022)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)
Commodity Futures Trade Commission – Rostin Behnam (effective December 17, 2021)
Financial Crimes Enforcement Network
National Credit Union Administration – Todd M. Harper
U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)
Federal Housing Finance Agency – Sandra L. Thompson, (confirmed May 25, 2022)
U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)
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 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.
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The Fed – Monetary Policy: Monetary Policy Report (Branch)
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SCIO Holds Press Conference on Providing Financial Support for High-quality Economic Development