Regulator terms

What's up

[ June 28, 2022 ] Interpretive rule aims to underscore states may preempt FCRA with stricter requirements CFPB
[ June 28, 2022 ] Bank regulators update state loan-to-deposit ratios FDIC
[ June 28, 2022 ] Alert urges banks to be vigilant against efforts to evade export controls imposed on Russia Other
[ June 28, 2022 ] Paper outlines how large cash holdings can lead to mismeasurement of risk Other
[ June 28, 2022 ] Credit union regulator highlights $1.7 billion in funding available for CDFI, post-COVID community development NCUA

AGENCY	POSITION	REGULATOR NAME	TERM ENDS
CFPB	Director	Chopra, Rohit	2026, September
FDIC	Chairman	McWilliams, Jelena	2023, May
FDIC	Vice Chairman	(Vacant)	(Vacant)
FDIC	Director (Appointive)	Gruenberg, Martin	2018, Dec.
FDIC	Director (Acting Comptroller of the Currency)	Hsu, Michael J.	Undetermined (Hsu succeeded Blake Paulson as Acting Comptroller May 10, 2021, upon designation by Treasury Secretary Janet Yellen))
FDIC	Director (CFPB Director)	Chopra, Rohit	2026, September
Federal Reserve	Vice Chair	Clarida, Richard	2022, Jan.
Federal Reserve	Member	Brainard, Lael	2026, Jan. (Nominated as vice chair of board, Nov. 22, 2021)
Federal Reserve	Chair	Powell, Jerome	2022, Feb. (as board member: 2028, Jan.); renominated as chair, Nov. 21, 2021
Federal Reserve	Vice Chair for supervision	(Vacant)	(Vacant)
Federal Reserve	Member	Bowman, Michelle "Miki"	2034, Jan. (confirmed by Senate to full 14-year term as governor.)
Federal Reserve	Member	Waller, Christopher	2030, Jan. (President Donald Trump tweeted intention July 2, 2019; Trump notifies Senate of intention, Jan. 16, 2020; Senate confirmed Dec. 3, 2020)
NCUA	Vice Chairman	Hauptman, Kyle S.	2025, Aug. (White House announced intention to nominate June 15 (to replace J. Mark McWatters, term experied (resigned, Nov. 20, 2020)). Senate confirmed Dec. 2, 2020; sworn in Dec. 3 -- designated vice chairman Jan. 5, 2021)
NCUA	Member	Hood, Rodney	2023, Aug. (Jan. 2019: re-nominated to NCUA Board, succeeding Rick Metsger (term expired), Senate confirms by unanimous consent March 14; designated chairman by President Trump April 8, 2019. Jan. 25, 2021, Harper named chairman, Hood remains on board as member.))
NCUA	Chairman	Harper, Todd M.	2021, April; UPDATE: Aug. 6, 2021, President Biden announces intention to nominate Harper to term ending April 2027 (continuing as chairman)
OCC	Acting Comptroller of the Currency	Hsu, Michael J.	Undetermined (Hsu succeeded Blake Paulson as Acting Comptroller May 10, 2021, upon designation by Treasury Secretary Janet Yellen. On Sept. 23, 2021, President Biden nominated Saule T. Omarova to a full, five-year term as comptroller, subject to Senate confirmation.)

Interpretive rule aims to underscore states may preempt FCRA with stricter requirements

June 28, 2022 0

States can protect residents through their own fair credit reporting laws by enacting laws that are stricter than the Fair Credit Reporting Act (FCRA), the federal consumer financial protection agency said Tuesday in issuing an interpretive rule. According to the [...]
Bank regulators update state loan-to-deposit ratios

June 28, 2022 0

Data on host state loan-to-deposit ratios that banking regulators use to determine banks’ compliance with a federal prohibition on acquiring branches outside their home states primarily to acquire more deposits was published Tuesday by the three federal bank regulatory agencies. [...]
Alert urges banks to be vigilant against efforts to evade export controls imposed on Russia

June 28, 2022 0

Banks and other financial institutions should be “vigilant” against efforts by those attempting to evade export controls in connection with Russia’s further invasion of Ukraine, two federal agencies said in an alert issued Tuesday. In a joint statement, the Treasury’s [...]
Paper outlines how large cash holdings can lead to mismeasurement of risk

June 28, 2022 0

The implications for financial stability and asset prices – including that firms’ large cash holdings can lead to mismeasuring risk – are addressed in a working paper on cash-hedged stock returns, published Tuesday by the federal agency created to study [...]
Credit union regulator highlights $1.7 billion in funding available for CDFI, post-COVID community development

June 28, 2022 0

More than $1.7 billion is available for grants to credit unions and other financial institutions designated as community development financial institutions (CDFIs) to help communities recovering from the coronavirus pandemic if the institutions apply by Aug. 23, the federal credit [...]