Federal Reserve Board
Speech: The Global Fight Against Inflation
October 8, 2024
Federal Reserve Board Governor Adriana D. Kugler gave a speech entitled “The Global Fight Against Inflation,” at the Conference on Monetary Policy 2024: Bridging Science and Practice, European Central Bank, Frankfurt, Germany.
Federal Reserve Bank of New York
Report: Wage Growth and Labor Market Tightness
October 8, 2024
The Federal Reserve Bank of New York published a staff report entitled “Wage Growth and Labor Market Tightness.”
Conference of State Bank Supervisors
Community Bankers’ Outlook is Sunniest in Nearly Three Years
October 8, 2024
The Conference of State Bank Supervisors released the Community Bank Sentiment Index (CBSI) for the third quarter 2024 which shows that community bankers nationwide have a brighter outlook, despite continued concerns about regulatory burden.
Federal Deposit Insurance Corporation
FDIC Extends Comment Period on Request for Information on Deposits
October 8, 2024
The Federal Deposit Insurance Corporation (FDIC) is extending until December 6, 2024, the comment period on the agency’s Request for Information on deposit data that is not currently reported in the Call Report or other regulatory reports, including for uninsured deposits.
FDIC Announces Extension of Comment Period for Proposed Changes to its Brokered Deposit Regulations
October 8, 2024
The FDIC is extending through November 21, 2024, the comment period on its notice of proposed rulemaking to strengthen the important prudential protections of the agency’s safety and soundness rule on brokered deposits (12 CFR 337.6) that implements Section 29 of the Federal Deposit Insurance Act.
Office of the Comptroller of the Currency
OCC Solicits Research on Artificial Intelligence in Banking and Finance
October 7, 2024
The Office of the Comptroller of the Currency is soliciting academic research papers on the use of artificial intelligence in banking and finance for submission by December 15, 2024.
Ginnie Mae
Ginnie Mae Announces New Disclosure for Rural Borrowers
October 8, 2024
Ginnie Mae introduced a new monthly disclosure that provides detailed information on loans in active Ginnie Mae mortgage-backed securities (MBS) with rural borrowers.
International
Bank of England Prudential Regulation Authority
Consultation Paper: Resolution assessments: Amendments to reporting and disclosure dates
October 8, 2024
The Bank of England’s Prudential Regulation Authority published a consultation paper entitled “Resolution assessments: Amendments to reporting and disclosure dates.”
Financial Conduct Authority
Speech: Predictable volatility
October 8, 2024
Financial Conduct Authority CEO Nikhil Rathi gave a speech entitled “Predictable volatility,” at the International Capital Markets Conference.
Speech: Delivering vibrant capital markets
October 8, 2024
Financial Conduct Authority Chair Ashley Adler gave a speech entitled “Delivering vibrant capital markets,” at the International Capital Markets Conference.
Dear CEO letter: (Payment and e-money institutions) Expectations on APP fraud reimbursement
October 7, 2024
The Financial Conduct Authority issued a Dear CEO Letter to payment and e-money institutions regarding expectations on authorized push payments (APP) fraud reimbursement.
Dear CEO letter: (Banks and building societies) Expectations on APP fraud reimbursement
October 7, 2024
The Financial Conduct Authority issued a Dear CEO Letter to banks and building societies regarding expectations on authorized push payments (APP) fraud reimbursement.
Administration Changes
Vacancies
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)
- Vice Chair Phillip N Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision 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 – Martin Gruenberg (effective January 5, 2023)
- Chair-Designate Christy Goldsmith Romero (nominated June 13, 2024; nomination hearing July 11, 2024)
- Vice Chairman Travis Hill (sworn in January 5, 2023)
- Director Jonathan McKernan (sworn in January 5, 2023)
- Director Michael Hsu (Acting Comptroller of the Currency)
- Director Rohit Chopra (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Michael Hsu (acting Comptroller, effective May 10, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
Commodity Futures Trading Commission – Rostin Behnam (effective December 17, 2021)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Todd M. Harper (effective January 20, 2021)
Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)
U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021) (resigned March 11, 2024, effective March 22, 2024)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)
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 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.
