Daily Financial Regulation Update — Thursday, September 29, 2022 | Paul Hastings LLP

congress

federal agencies

Federal Reserve Board

The Federal Reserve Board adopts a regulatory framework for insurance organizations that are regulated by the Board

September 28, 2022

The Federal Reserve Board has completed a regulatory framework for insurance organizations that are subject to Board supervision.

Federal Reserve Board
Federal Deposit Insurance Company
Conference of State Banking Regulators

Speeches at the 2022 Community Banking Research Conference

September 28, 2022

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Conference of State Bank Supervisors (CSBS) jointly sponsored the 2022 Community Banking Research Conference, speeches by Federal Reserve Board Chair Jerome H. Powell and the Governor Michelle Bowman, FDIC Acting, included Chairman Martin Grünberg and CSBS Chairman Tom.

Federal Reserve Bank of New York

Blog: Short term premia and the level of inflation

September 28, 2022

The Federal Reserve Bank of New York published a Liberty Street Economics Blog post titled “Short-term premia and the level of inflation”.

Conference of State Banking Regulators

Poll: Community bankers feel weak economy at local level

September 28, 2022

The Conference of State Bank Supervisors released the 2022 National Survey of Community Banks showing that community bankers across the country ranked net interest margins, economic conditions and credit demand as their top external risks.

Commodity Futures Trading Commission

Statements on the Market Risk Advisory Committee Meeting

September 28, 2022

Commodity Futures Trading Commission Commissioners Kristin N. Johnson, Christy Goldsmith Romero and Caroline D. Pham made statements before the Market Risk Advisory Committee.

Consumer Financial Protection Agency

Report: Recovering from Financial Exploitation of the Elderly: A Framework for Policy and Research

September 28, 2022

The Consumer Financial Protection Bureau released a report titled “Recovering from Elder Financial Exploitation: A framework for policy and research.”

Blog: Exploring the potential impact of high vehicle costs on Americans with low subprime credit scores

September 28, 2022

The Consumer Financial Protection Bureau published a blog post titled “Examining the Potential Impact of High Vehicle Costs on Americans With Low Subprime Credit Scores.”

Ginnie Mae

ESG charts and charts for multiple families on Disclosure Search screen

September 28, 2022

Ginnie Mae has published Multifamily Environmental, Social, and Governance (ESG) portfolio-level charts to provide a visual representation of data that facilitates comparisons and promotes a better understanding of trends in Ginnie Mae’s disclosure data.

Also Read :  Regions Helps to Repair Cars - and Lives

Bank Policy Institute

BPI supports Senate efforts to achieve the benefits of digital IDs

September 28, 2022

The Bank Policy Institute issued a statement in support of the Improving Digital Identity Act of 2022 (S.4528), which the Senate Homeland Security and Governmental Affairs Committee voted to pass during a bill.

International

administrative changes

Job offers

Federal Deposit Insurance Company

  • Chairman – vacant (Martin Grünberg acts as Deputy Chairman)
  • Vice Chair – Travis Hill (nominated September 20, 2022)
  • Member – Jonathan McKernan (nominated September 20, 2022)

Office of the Comptroller of the Currency

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

Appointments/Confirmation Hearings

US Department of Treasury – Janet Yellen (effective January 26, 2021)

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

  • Vice Chair Lael Brainard (sworn in 23 May 2022)
  • Vice Chairman for Oversight Michael Barr (sworn in July 19, 2022)
  • Governor Phillip N. Jefferson (sworn in May 23, 2022)
  • Governor Lisa D. Cook (sworn in May 23, 2022)
  • Statement by Federal Reserve Board Chairman 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 May 23, 2022)
  • Statement by Treasury Secretary Janet L. Yellen on Federal Reserve nominations (November 22, 2021)
  • Statement by Secretary Walsh on Federal Reserve Nominations (November 22, 2021)
  • Brown Statement Reappointing Jerome Powell as Fed Chair (November 22, 2021)
  • Toomey Statement on Jerome Powell’s Re-Nomination for Fed Chair (November 22, 2021)
  • Brown Applauds Biden’s Appointment of Gov. Lael Brainard as Vice Chair (November 22, 2021)
  • Brown Welcomes Biden’s Nominee to Fed Board (January 14, 2022)
  • Toomey Statement on President Biden’s Fed Nominees (January 14, 2022)
  • Waters Welcomes Sarah Bloom Raskin, Lisa Cook, and Philip Jefferson Nominations for Federal Reserve Leadership Roles (January 14, 2022)
  • Statement by Treasury Secretary Janet L. Yellen on Federal Reserve Nominations (January 14, 2022)
  • Brown Statement by Senate Banking Committee Chairmen Nominating Dr. Lisa Cook (March 29, 2022)
  • Toomey, Senate Banking Committee Ranking Member, Statement on Dr. Lisa Cook (March 29, 2022)
  • Brown Statement by Senate Banking Committee Chairperson Appointing Michael Barr as Federal Reserve Vice-Chairman for Oversight (April 15, 2022)
  • Toomey, Senate Banking Committee Ranking Member, Statement Regarding Michael Barr’s Nomination for Vice Chairman of the Federal Reserve Board for Oversight (April 15, 2022)
  • Statement by the chairmen of the Senate Banking Committee confirming Dr. Lisa Cook by the Senate (May 10, 2022)
  • Statement of Senate Banking Committee Ranking Members Confirming Dr. Lisa Cook by the Senate (May 10, 2022)
  • Jerome H. Powell Inaugurated for a Second Term as Chairman of the Board of Governors of the Federal Reserve System (May 23, 2022)
  • Lael Brainard Inaugurated as Vice Chair of the Board of Governors of the Federal Reserve System (May 23, 2022)
  • Lisa D. Cook Sworn in as a Member of the Board of Governors of the Federal Reserve System (May 23, 2022)
  • Philip N. Jefferson Sworn in as a Member of the Board of Governors of the Federal Reserve System (May 23, 2022)
  • Statement by Senate Banking Committee Chairman ahead of Michael Barr Confirmation Vote (July 13, 2022)
  • Statement by President Biden confirming Michael Barr as Vice Chair of the Fed (July 13, 2022)
  • Statement from the President and CEO of CSBS confirming 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 System (July 19, 2022)
Also Read :  David Mills to be appointed new Chief Financial Officer for Hexagon

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

Federal Deposit Insurance Company – Martin Grünberg (acting chairman, appointed February 5, 2022)

Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)

Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)

  • LizAnn Eisen Joins Division of Corporation Finance as Deputy Director, Disclosure Program (January 27, 2022)
  • Lori H. Price Appointed Acting Director, Office of Credit Ratings; Ahmed Abonamah to leave SEC (February 1, 2022)
  • Kelly L. Gibson, director of the Philadelphia regional office, is leaving the SEC; Scott Thompson and Joy Thompson Appointed Office Acting Co-Heads (February 11, 2022)
  • Joint Statement by SEC Chair and Commissioners on Senate Confirmation of Jaime Lizárraga and Mark Uyeda (June 17, 2022)
  • CFTC Commissioner Statement Regarding Senate Confirmations of Mark Uyeda and Jaime Lizarraga (June 17, 2022)
  • Jaime Lizárraga Inaugurated as SEC Commissioner (July 18, 2022)
  • Lori H. Price Appointed Director, Office of Credit Ratings (12 August 2022)
Also Read :  How Janet Mills and Paul LePage met economic challenges

Small Business – Isabella Casillas Guzman (effective March 16, 2021)

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

  • Kristin Johnson, nominee for Commissioner of the Commodity Futures Trading Commission (September 13, 2021)
  • Christy Goldsmith Romero, nominee for commissioner of the Commodity Futures Trading Commission (September 13, 2021)
  • US Senate Unanimously Confirms Behnam as Chairman (December 17, 2021)
  • CFTC Chairman Rostin Behnam Announces Executive Appointments (January 20, 2022)
  • CFTC Chairman Rostin Behnam Appoints First CFTC Leadership (January 25, 2022)
  • Statement by CFTC Chair Rostin Behnam on US Senate Confirmations of Christy Goldsmith Romero, Kristin N. Johnson, Summer Kristine Mersinger and Caroline D. Pham (March 29, 2022)
  • CFTC Commissioner Pham announces first appointments (April 22, 2022)
  • CFTC Commissioner Goldsmith Romero Announces Appointments (April 27, 2022)
  • CFTC Commissioner Pham Announces Additional Appointments (May 13, 2022)
  • CFTC Commissioner Mersinger Announces Appointments (May 16, 2022)

Financial Crime Enforcement Network

National Credit Union Administration – Todd M Harper

US Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)

Federal Agency for Housing Financing – Sandra L. Thompson, (confirmed May 25, 2022)

US Department of Education – dr Miguel Cardona (valid from March 2, 2021)

PH Client Warnings

click here to read more from our Coronavirus series.

Legislation/Legal Updates

click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Effective March 27, 2020.

click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Effective April 24, 2020.

click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Effective June 5, 2020.

click here to view the full text Consolidated Appropriations Act, 2021, Effective December 27, 2020.

click here to view the full text of America’s 2021 bailout plan, Effective March 11, 2021.

click here to see the full text of the PPP Extension Act of 2021, Effective March 30, 2021.

Click here for a running list of proposed legislation from the Senate Committee on Banking, Housing and Urban Development, the Senate Committee on Small Business and Entrepreneurship, the House Committee on Financial Services, and the House Committee on Small Business.