U.S. Financial Regulatory Week Ahead

Written By Francis Kelly

Bowman’s Vice Chair Confirmation Hearing, Looking for Timeline of SEC and OCC Nomination Votes, and the ABA’s Washington Summit Likely to Shed New Light on Forthcoming Regulatory Policy

April 7 - 11, 2025

It is going to be a big week in the Senate for important regulatory nominees.  The Senate Banking Committee will hold the confirmation hearing for current Federal Reserve Board Governor Michelle Bowman to serve as Vice Chair for Supervision.  She will be in a pack of nominees (six total) who are up for other roles at Treasury and Commerce.

We would note that the Treasury Department will be taking a big step forward to finally filling critical seats this week as the Senate (both Banking Committee and the Finance Committee which share oversight of Treasury) hold confirmation hearings for the Undersecretary for Financial Crimes, Tax Policy as Luke Pettit, who is up for Assistant Secretary for Financial Institutions, is up for a final full Senate confirmation vote.

Also this week, we are likely to get a clearer timeline for when the full Senate will vote on the final confirmation of SEC Chair nominee Paul Atkins and Comptroller of the Currency nominee Jonathan Gould. With Congress going out for two weeks for the Passover/Easter holidays (April 14-25), it is likely those votes will not take place until the last week of April or early May.  Both Atkins and Gould were successfully approved by the Senate Banking Committee last week.

The big event of the week will be the American Bankers Association annual Washington Summit.  There will be a host of important speakers ranging from Senate Banking Committee Chair Tim Scott (R-SC) to House Financial Services Committee Chair French Hill (R-AK) to Treasury Secretary Scott Bessent to acting FDIC Chair Travis Hill. 

There will be a number of hearings in Congress this week.  Notably, the House Financial Services Committee’s recently created on Monetary Policy, Treasury Market Resilience, and Economic Prosperity will hold a hearing entitled “ U.S. Treasury Debt in the Monetary System.”   The Task Force – made up of only Republican members – is looking at the Federal Reserve and where reforms should be made.

Below  is what else we are watching in the Washington financial regulatory world this coming week:

 

U.S. Congressional Hearings 

U.S. Senate

  • Tuesday, April 8, 10:00 a.m. – The Senate Finance Committee will hold a hearing on President Trump’s 2025 Trade Policy Agenda.  U.S. Trade Representative Jamison Greer will testify.

  • Tuesday, April 8, 11:00 a.m. – Senate Banking Committee Chair Tim Scott (R-SC) will speak at the American Bankers Association’s Washington Summit.

  • Thursday, April 10, 10:00 a.m. – The Senate Finance Committee will hold the confirmation hearing for William Kimmitt to be the Undersecretary of Commerce for International Trade and Ken Kies to be Assistant Secretary of Treasury for Tax Policy.

  • Thursday, April 10, 10:00 a.m. – The Senate Banking Committee will hold confirmation hearings for Andrew Hughes to be Deputy Secretary, Department of Housing and Urban Development, David Woll, to be General Counsel, Department of Housing and Urban Development,  The Honorable Michelle Bowman to be Vice Chairman for Supervision, Board of Governors of the Federal Reserve System, John Hurley, to be Under Secretary for Terrorism and Financial Crimes, Department of the Treasury,  David Fogel, to be Assistant Secretary of Commerce and Director General of the United States and Foreign Commercial Service, Department of Commerce, and  Landon Heid, to be an Assistant Secretary of Commerce, Department of Commerce.

 

House of Representatives

  • Tuesday, April 8, 8:30 a.m. – House Financial Services Committee Chairman French Hill participates in a fireside chat at the ABA Washington Summit.

  • Tuesday, April 8, 10:00 a.m. – The House Financial Services Committee’s Subcommittee on Oversight and Investigations will hold a hearing entitled “Decades of Dysfunction: Restoring Accountability at HUD.”

  • Tuesday, April 8, 2:00 p.m. – The House Financial Services Committees Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity will hold a hearing entitled “ U.S. Treasury Debt in the Monetary System.”

  

Federal Department & Regulatory Agency Meetings & Events

Federal Reserve Board and Federal Reserve Banks

  • Monday, April 7, 10:30 a.m. – Federal Reserve Board Governor Adriana D. Kugler will give a virtual lecture at Harvard University entitled “Inflation Dynamics and the Phillips Curve.”

  • Tuesday, April 8, 10:00 a.m. – San Francisco Federal Reserve Bank President Mary Daly participates in “The Economic Outlook and Work of the Federal Reserve" conversation hosted by the Brigham Young University Marriott School of Business.

  • Wednesday, April 9, 12:00 p.m. – Richmond Federal Reserve Bank President Thomas Barkin participates in a conversation with the Economic Club of Washington.

  • Thursday, April 10, 10:00 a.m. – Federal Reserve Board Governor Michelle W. Bowman will have her confirmation hearing to serve as Vice Chair for Supervision before the Senate Banking Committee.

  • Friday, April 11, 10:00 a.m. – St. Louis Federal Reserve Bank President Alberto Musalem speaks on the U.S. economy and monetary policy and participates in moderated conversation before the Arkansas State Bank Department's 29th Annual Day with the Commissioner.

 

U.S. Treasury Department

  • Wednesday, April 9, 8:30 a.m. – Treasury Secretary Scott Bessent will speak at the American Bankers Association’s Washington Summit.

 

Department of Commerce

  • There are no significant events scheduled at this time.

 

Department of Housing and Urban Development

  • There are no significant events scheduled at this time.

 

Securities and Exchange Commission

  • Thursday, April 10, 2:00 p.m. – The SEC will hold a Closed Meeting.

 

Commodities Futures Trading Commission

  • There are no significant events scheduled at this time.

 

Federal Deposit Insurance Corporation

  • Tuesday, April 8, 10:30 a.m. -- Acting FDIC Chairman Travis Hill will speak at the American Bankers Association Washington Summit.

 

Office of the Comptroller of the Currency

  • There are no significant events scheduled at this time.

 

The Consumer Financial Protection Bureau

  • There are no significant events scheduled at this time.

 

National Credit Union Administration

  • There are no significant events scheduled at this time.

 

FINRA

  • There are no significant events scheduled at this time.

 

Federal Housing Finance Agency

  • There are no significant events scheduled at this time.

 

Federal Trade Commission & Department of Justice Antitrust Division

 

Farm Credit Administration

  • Thursday, April 10, 10:00 a.m. – the FCA Board will meet to discuss the Quarterly Report on Economic Conditions and Farm Credit System Condition and Performance

 

Farm Credit Insurance Corporation

  • Wednesday, April 9, 10:00 a.m. the FCIA Board will meet. No agenda has been released yet.

 

Small Business Administration

  • There are no significant events scheduled at this time.

 

International Monetary Fund & World Bank

  • There are no significant events scheduled at this time.

 

North American Securities Administrators Association

  • There are no significant events scheduled at this time.

  

 

Trade Associations & Think Tank Events

Trade Associations

 

Think Tanks and Other Events

  • Tuesday, April 8, 4:00 p.m. – R Street will host with Finpublica, Impact Capital and Liberty Venturea will a virtual discussion, on "Liberty, the Markets, and Sustainability: The Capitalist Case for Sustainable Finance."

  • Wednesday, April 9, 8:30 a.m.: Punchbowl News will hold a discussion on the news of the day and investing in America. Speakers will include Bobby Franklin, President and CEO of the National Venture Capital Association; Drew Maloney, CEO of the American Investment Council; and Representative August Pfluger (R-Texas).

  • Wednesday, April 9, 9:00 a.m. – The US Chamber of Commerce holds its Critical Minerals Summit in Washington, D.C.

  • Thursday, April 10, 9:30 a.m. – The Peterson Institute for International Economics and the Federal Reserve Bank of Dallas hold a conference, beginning at 9:30 a.m., on "Outlook for North American Trade and Immigration."

 

Francis Kelly
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