U.S. Financial Regulatory Week Ahead

Jul 14

The Fed Votes to Move Ease Rating Requirements for “Well Managed” Banks, Just as the Renovation and Bee Controversy Heats Up, Gould Gets Confirmed as Comptroller, and Two Major Crypto Bills Make Major Strides

July 14 - 18, 2025

It may be the middle of summer in Washington, but it remains a busy time here in the nation’s capital for Congress and regulators.

On Tuesday, the House of Representatives is poised to pass two major pieces of legislation and send one of them to President Trump’s desk to be signed into law. The first bill will regulate so-called Stable Coins. President Trump has indicated he will sign the legislation. The second bill would create a crypto market structure bill and will be sent to the Senate.

The House Financial Services Committee is holding more hearings this coming week, looking at the impact of Dodd-Frank, which was passed into law 15 years ago. Talking to Congressional staff, it is all part of a prelude to likely new deregulatory legislation in the coming months. It also provides some cover to the SEC and CFTC to look at deregulatory moves, as well.

Meanwhile, the Senate confirmed Jonathan Gould as Comptroller of the Currency last week and is getting ready for a confirmation hearing for Travis Hill as the next Chair of the Federal Deposit Insurance Corporation (FDIC).

As all this was happening, the Federal Reserve voted last week to move forward with a proposed regulation adjusting the supervisory rating framework, something that is likely to make it easier for banks to merge. Currently, any bank that loses its “well-managed” status can be limited in its ability to undertake certain activities, such as mergers and acquisitions, as well as in investing in other companies involved in certain financial activities.

But that was the good news out of the Fed for the week. Fed Chair Jay Powell continues to be under growing fire for an ongoing renovation of the Federal Reserve headquarters. More Republican members of Congress and supporters of President Trump are beginning to argue the supposed mismanagement of the project, which reportedly includes lavish remodeling of the headquarters and the building of beehives on the Fed grounds, as a “cause” for which President Trump can fire Powell. We are dubious it will get to that point and believe it is all part of a larger effort to pressure Powell to move on lowering interest rates at the next Federal Open Market Committee meeting.

Below are the meetings and events happening this week in Washington of note:

U.S. Congressional Hearings

U.S. Senate

· Tuesday, July 15, 3:00 p.m. – The Senate Agriculture Committee holds a hearing entitled “Stakeholder Perspectives on Federal Oversight of Digital Commodities.’

House of Representatives

· Tuesday, July 15, 10:00 a.m. – The House Financial Services Committee holds a hearing entitled “Dodd-Frank Turns 15: Lessons Learned and the Road Ahead” You can read the Committee Staff Background Memo HERE.

· Wednesday, July 16, 9:00 a.m. – The House Ways and Means Oversight Subcommittee holds a hearing on "Making America the Crypto Capital of the World: Ensuring Digital Asset Policy Built for the 21st Century."

· Wednesday, July 16, 10:00 a.m. – The House Financial Services Committee’s Subcommittee on National Security, Illicit Finance, and International Financial Institutions holds a hearing entitled “U.S. Policy on Investment Security.”

· Wednesday, July 16, 2:00 p.m. – The House Agriculture General Farm Commodities. Risk Management, and Credit Subcommittee holds a hearing on "Financing Farm Operations: The Importance of Credit and Risk Management.

· Wednesday, July 16, 2:00 p.m. – The House Financial Services Committee’s Housing and Insurance Subcommittee holds a hearing on "HOME 2.: Modern Solutions to the Housing Shortage."

Federal Department & Regulatory Agency Meetings & Events

Federal Reserve Board and Federal Reserve Banks

· Tuesday, July 15 - The Federal Reserve holds its Unleashing a Financially Inclusive Future Conference in Washington, D.C.

· Tuesday, July 15, 9:15 a.m. – Federal Reserve Vice Chair for Supervision Michelle Bowman will give remarks at the Federal Reserve Board's Second Annual Financial Inclusion Conference (via pre-recorded video).

· Tuesday, July 15, 12:45 p.m. – Federal Reserve Board Governor Michael Barr will give a speech entitled “expanding financial inclusion” at the Federal Reserve Board's Second Annual Financial Inclusion Conference, Washington, D.C.

· Wednesday, July 16, 9:15 a.m. – Cleveland Federal Reserve Bank President Beth Hammack speaks on "Community Development" before the Cuyahoga County Community College Corporate College 20th Anniversary Celebration Business Breakfast.

· Wednesday, July 16, 10:00 a.m. – Federal Reserve Board Governor Michael Barr will give a speech on financial regulation at the Brookings Institution in Washington, D.C.

· Wednesday, July 16, 6:30 p.m. – New York Federal Reserve Bank President John Williams gives keynote before the New York Association for Business Economics (NYABE) Distinguished Speaker Series.

· Thursday, July 17, 10:00 a.m. – Federal Reserve Board Governor Adriana Kugler will give a speech entitled “A view of the Housing Market and U.S. Economic Outlook” at the Housing Partnership Network Symposium in Washington, D.C.

· Thursday, July 17, 1:30 p.m. – Federal Reserve Board Governor Lisa Cook gives a speech at the National Bureau of Economic Research Summer Institute (virtually).

· Thursday, July 17, 6;30 p.m. – Federal Reserve Board Governor Christopher Waller will give a speech on the economic outlook at the Money Marketeers Event in New York.

U.S. Treasury Department