Daily Financial Regulation Update — Tuesday, July 26, 2022

Federal Companies

Federal Deposit Coverage Corporation

The FDIC Updates its Enforcement Steps Guide relating to Minimum Specifications for Termination of Cease-and-Desist and Consent Orders

July 25, 2022

The Federal Deposit Insurance plan Corporation (FDIC) has current its Formal and Informal Enforcement Actions Guide (guide) to address the FDIC’s minimum criteria for terminating cease and desist and consent orders issued beneath Part 8(b) of the Federal Deposit Insurance coverage Act.

Workplace of the Comptroller of the Currency

OCC Solicits Analysis on Implications of Financial Technologies for Banking

July 25, 2022

The Place of work of the Comptroller of the Forex is soliciting academic-and policy-focused research on the affect of monetary engineering entities and nonbanks on banking and the marketplaces for lending, deposit-using and payment expert services through August 21, 2022.

Securities and Trade Fee

Joint Statement: Commissioners Peirce and Uyeda Remark on the Economic Accounting Foundation Draft Strategic Prepare

July 25, 2022

Securities and Exchange Commissioners Hester M. Peirce and Mark T. Uyeda issued a joint assertion commenting on the Monetary Accounting Foundation’s Strategic Strategy Draft.

Commodity Futures Investing Fee

Keynote Handle of Chairman Rostin Behnam at the Brookings Establishment Webcast on The Foreseeable future of Crypto Regulation

July 25, 2022

Commodity Futures Buying and selling Commission Chair Rostin Behnam gave the keynote tackle at the Brookings Establishment Webcast on the Upcoming of Crypto Regulation.

Worldwide

Bank of England

Asset Purchase Facility Quarterly Report – 2022 Q2

July 25, 2022

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

Administration Changes

Vacancies

Federal Deposit Insurance Corporation

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

Place of work 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 (powerful January 26, 2021)

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

  • Vice Chair Lael Brainard (sworn in May perhaps 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 perhaps 23, 2022)
  • Statement by Federal Reserve Board Chair Jerome H. Powell on his nomination by President Biden (November 22, 2021)
  • Assertion by Governor Lael Brainard on her nomination by President Biden (November 22, 2021) (sworn in May 23, 2022)
  • Secretary of the Treasury Janet L. Yellen Assertion 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 Assertion 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 Assertion 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 (March 29, 2022)
  • Senate Banking Committee Rating Member Toomey Statement on Nomination of Dr. Lisa Cook (March 29, 2022)
  • Senate Banking Committee Chair Brown Assertion on Nomination of Michael Barr for Federal Reserve Vice Chair for Supervision (April 15, 2022)
  • Senate Banking Committee Position Member Toomey Statement on Nomination of Michael Barr for Federal Reserve Vice Chair for Supervision (April 15, 2022)
  • Senate Banking Committee Chair Statement on Senate Affirmation of Dr. Lisa Cook (May 10, 2022)
  • Senate Banking Committee Ranking Member Assertion on Senate Affirmation of Dr. Lisa Prepare dinner (May 10, 2022)
  • Jerome H. Powell sworn in for 2nd phrase as Chair of the Board of Governors of the Federal Reserve Method (Could 23, 2022)
  • Lael Brainard sworn in as Vice Chair of the Board of Governors of the Federal Reserve System (May well 23, 2022)
  • Lisa D. Cook sworn in as a member of the Board of Governors of the Federal Reserve Process (May well 23, 2022)
  • Philip N. Jefferson sworn in as a member of the Board of Governors of the Federal Reserve Program (May 23, 2022)
  • Senate Banking Committee Chair Assertion Forward of Affirmation 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 Assertion on Confirmation 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 Method (July 19, 2022)

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

Federal Deposit Insurance plan Company – Martin Gruenberg (Performing Chair, appointed February 5, 2022)

Shopper Fiscal Safety Bureau – Rohit Chopra (productive Oct 12, 2021)

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

Little Enterprise Administration – Isabella Casillas Guzman (efficient March 16, 2021)

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

  • Kristin Johnson, Nominee for Commissioner of the Commodity Futures Buying and selling Commission (September 13, 2021)
  • Christy Goldsmith Romero, Nominee for Commissioner of the Commodity Futures Trading Fee (September 13, 2021)
  • U.S. Senate Unanimously Confirms Behnam as Chairman (December 17, 2021)
  • CFTC Chairman Rostin Behnam Announces Govt Employees Appointments (January 20, 2022)
  • CFTC Chairman Rostin Behnam Appoints First CFTC Management (January 25, 2022)
  • Assertion of CFTC Chairman Rostin Behnam on the U.S. Senate Confirmations of Christy Goldsmith Romero, Kristin N. Johnson, Summertime Kristine Mersinger, and Caroline D. Pham (March 29, 2022)
  • CFTC Commissioner Pham Announces Preliminary Employees Appointments (April 22, 2022)
  • CFTC Commissioner Goldsmith Romero Announces Staff Appointments (April 27, 2022)
  • CFTC Commissioner Pham Announces Extra Staff Appointments (May 13, 2022)
  • CFTC Commissioner Mersinger Announces Personnel Appointments (May well 16, 2022)

Economical Crimes Enforcement Network

National Credit score Union Administration – Todd M. Harper

U.S. Section of Housing and Urban Improvement – Marcia Fudge (productive March 10, 2021)

Federal Housing Finance Agency – Sandra L. Thompson, (verified May well 25, 2022)

U.S. Department of Education – Dr. Miguel Cardona (powerful March 2, 2021)

PH Shopper Alerts

Simply click here to go through a lot more from our Coronavirus sequence.

Legislation/Legislative Updates

Click on here to see the whole text of the Coronavirus Assist, Reduction and Economic Protection Act (the “CARES Act”), Enacted March 27, 2020.

Simply click here to perspective the total text of the Paycheck Defense Software Raise Act of 2020, Enacted April 24, 2020.

Simply click listed here to see the full textual content of the Paycheck Safety Program Versatility Act of 2020, Enacted June 5, 2020.

Click here to perspective the entire textual content of the Consolidated Appropriations Act, 2021, Enacted December 27, 2020.

Click on right here to check out the entire text of the American Rescue Prepare of 2021, Enacted March 11, 2021.

Click on below to check out the complete textual content of the PPP Extension Act of 2021, Enacted March 30, 2021.

Simply click below to view a running checklist of proposed laws from the Senate Committee on Banking, Housing, and City Affairs, Senate Committee on Compact Business and Entrepreneurship, House Committee on Economical Providers, and Property Committee on Smaller Organization.

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