Federal Agencies
Federal Reserve Bank of New York
Report: Corporate Debt Structure over the Global Credit Cycle
December 5, 2024
The Federal Reserve Bank of New York published a staff report entitled “Corporate Debt Structure over the Global Credit Cycle.”
Blog: Do Import Tariffs Protect U.S. Firms?
December 5, 2024
The Federal Reserve Board published a Liberty Street Economics blog post entitled “Do Import Tariffs Protect U.S. Firms?”
Commodity Futures Trading Commission
CFTC Staff Issues Advisory Related to the Use of Artificial Intelligence by CFTC-Registered Entities and Registrants
December 5, 2024
The Commodity Futures Trading Commission’s Divisions of Clearing and Risk, Data, Market Oversight and Market Participants issued a staff advisory on the use of artificial intelligence in CFTC-regulated markets by registered entities and registrants.
Consumer Financial Protection Bureau
CFPB Ombudsman’s Office 2024 Annual Report
December 5, 2024
The Ombudsman’s Office of the Consumer Financial Protection Bureau published its 2024 annual report.
OIG Report: The CFPB Can Improve Its Process for Onboarding Depository Institutions That Transition to Its Oversight
December 5, 2024
The Office of Inspector General of the Consumer Financial Protection Bureau published a report entitled “The CFPB Can Improve Its Process for Onboarding Depository Institutions That Transition to Its Oversight.”
National Credit Union Administration
Credit Unions’ Loans, Assets, and Delinquencies Rise; Net Income Down
December 5, 2024
According to the latest financial performance data released by the National Credit Union Administration, total loans outstanding in federally insured credit unions increased $41 billion, or 2.6 percent, over the year ending in the third quarter of 2024, to $1.63 trillion.
Fannie Mae
Expert Panel Upwardly Revises Home Price Growth Outlook, Still Expects Deceleration in 2025 and 2026
December 5, 2024
Following an average expectation for national home price growth of 5.2 percent in 2024, a panel of over 100 housing experts forecasts home price growth to decelerate to 3.8 percent in 2025 and 3.6 percent in 2026, according to the Q4 2024 Fannie Mae Home Price Expectations Survey (HPES), produced in partnership with Pulsenomics, LLC.
International
Bank of England
Monthly Decision Maker Panel data - November 2024
December 5, 2024
The Bank of England published the Decision Maker Panel survey data from November 2024.
Bank Overground: What can we learn from microdata about household savings in recent years?
December 5, 2024
The Bank of England published a Bank Overground article entitled “What can we learn from microdata about household savings in recent years?”
Administration Changes
Vacancies
Appointments/Confirmation Hearings
U.S. Department of the Treasury – Scott Bessent (nominated November 2024); 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 (resigning effective January 19, 2025)
- 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 – Paul Atkins (nominated December 2024); Gary Gensler (resigning January 20, 2025)
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 – Kelly Loeffler (nominated December 2024); Isabella Casillas Guzman (effective March 16, 2021)
U.S. Department of Housing and Urban Development – Scott Turner (nominated November 2024); Marcia Fudge (resigned March 11, 2024, effective March 22, 2024)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Linda McMahon (nominated November 2024); 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 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
