PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, June 26, 2026
June 26, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Congress
US Senate
Committee on Banking, Housing and Urban Affairs
Nomination Hearing
June 25, 2026
The Senate Committee on Banking, Housing and Urban Affairs held a hearing on the following nominations: Christopher Phelan, to be chairman of the Council of Economic Advisers, Executive Office of the President; John Crews, to be a member of the National Credit Union Administration; and Jeffrey Ledbetter, to be inspector general of the Department of Housing and Urban Development.
- Hearing
- Chair Scott Statement
- Ranking Member Warren Opening Statement
- Council of Economic Advisers Designate Phelan Testimony
- NCUA Member Designate Crews Testimony
- Inspector General Designate Ledbetter Testimony
US House of Representatives
Hearing: ‘From Wall Street to Main Street: The Future of How America Invests’
June 25, 2026
The House Committee on Financial Services Subcommittee on Capital Markets held a hearing titled “From Wall Street to Main Street: The Future of How America Invests.”
Federal Agencies
Federal Reserve Board
Senior Credit Officer Opinion Survey on Dealer Financing Terms — June 2026
June 25, 2026
The Federal Reserve Board released the results of the Senior Credit Officer Opinion Survey on Dealer Financing Terms for June 2026.
Federal Reserve Bank of New York
Article: ‘The Strategy and the Goals’
June 25, 2026
Federal Reserve Bank of New York President John C. Williams penned an article titled “The Strategy and the Goals” addressing the Federal Reserve’s dual mandate goals of maximum employment and price stability.
Federal Deposit Insurance Corporation
FDIC Board Approves Proposal to Amend Regulations Regarding the Disclosure of Confidential Information
June 25, 2026
The Federal Deposit Insurance Corporation Board of Directors approved a notice of proposed rulemaking to amend Part 309 of its regulations governing the disclosure of confidential information by the FDIC and other entities.
FDIC Board Approves Proposal to Revise Deposit Insurance Assessment Thresholds, Rate Schedules and Adjustments
June 25, 2026
The Federal Deposit Insurance Corporation Board of Directors approved a notice of proposed rulemaking that would revise the FDIC’s assessment regulations for all FDIC-insured institutions.
FDIC Board Approves Proposal to Amend Resolution Submissions by Covered Insured Depository Institutions
June 25, 2026
The Federal Deposit Insurance Corporation Board of Directors approved a notice of proposed rulemaking that would revise the resolution submission requirements that currently apply to insured depository institutions with $50 billion or more in total assets.
Office of the Comptroller of the Currency
Credit Risk: ‘Lending and Loan Portfolio Risk Management’ Booklet of the Comptroller’s Handbook and Rescissions
June 25, 2026
The Office of the Comptroller of the Currency issued the “Lending and Loan Portfolio Risk Management” booklet of the Comptroller’s Handbook.
Commodity Futures Trading Commission
CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning Data Reporting Requirements for Certain Event Contracts
June 25, 2026
The Commodity Futures Trading Commission today published a notice of proposed rulemaking seeking public comment on amendments to Part 15, Part 16 and Part 17 of the commission’s regulations.
Consumer Financial Protection Bureau
CFPB Announces Joint Final Rule on Adopting Uniform Standards for Reporting Financial Data
June 25, 2026
The Consumer Financial Protection Bureau finalized rulemaking that establishes technical standards for data submitted to certain financial regulatory agencies. This joint final rule is required under the Financial Data Transparency Act of 2022 to promote interoperability of financial regulatory data across the Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the FDIC, the National Credit Union Administration, the Federal Housing Finance Agency, the CFTC, the Department of the Treasury and the CFPB.
Federal Housing Finance Agency
Foreclosure Prevention, Refinance and FPM Report — Q1
June 25, 2026
The Federal Housing Finance Agency released the results of the Foreclosure Prevention, Refinance and FPM Report for the first quarter of 2026.
International
Bank of England
Prudential Regulation Authority
Bank of England and PRA Annual Report and Accounts
June 25, 2026
The Bank of England and Prudential Regulation Authority have published their annual reports for March 1, 2025 - Feb. 28, 2026.
Bank of England
The Retail Payments Infrastructure Board Launches Consultation on the UK’s Next-Generation Payments Infrastructure
June 25, 2026
The Retail Payments Infrastructure Board launched a consultation on the future design of the U.K.’s next-generation retail payments infrastructure.
Financial Conduct Authority
Speech: ‘Shaping the Future of the Credit Market — The Road Ahead’
June 25, 2026
Financial Conduct Authority Director of Consumer Finance Alison Walters gave a speech titled “Shaping the future of the credit market – the road ahead” at the Credit Week: Powering the Future of Finance event. Director Walters also penned a related blog post on Buy Now Pay Later protections.
Administration Changes
Vacancies
Appointments/Confirmation Hearings
U.S. Department of the Treasury – Scott Bessent (effective January 27, 2025)
Federal Reserve Board – Kevin Warsh (effective May 22, 2026)
- Vice Chair Phillip N. Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision Michelle W. Bowman (sworn in June 9, 2025)
- Governor Michael Barr (sworn in July 19, 2022)
- Governor Christopher J. Waller (sworn in December 18, 2020)
- Governor Lisa D. Cook (sworn in September 13, 2022 – SCOTUS hearing on purported termination to be held in January 21, 2026)
- Governor Jerome H. Powell (sworn in June 16, 2014)
Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)
Federal Reserve Bank of Boston – Susan M. Collins (effective July 1, 2022)
Federal Deposit Insurance Corporation – Travis Hill (effective January 13, 2026)
- Vice Chairman Vacant
- Director Vacant
- Director Jonathan Gould (Comptroller of the Currency)
- Director Russel Vought (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Jonathan Gould (effective July 15, 2025)
Securities and Exchange Commission – Paul Atkins (effective April 9, 2025)
Commodity Futures Trading Commission – Michael Selig (effective December 22, 2025)
Consumer Financial Protection Bureau – Russel Vought (Acting Director effective February 10, 2025); Nominee Brian Johnson (nominated June 10, 2026)
National Credit Union Administration – Kyle Hauptman (Chairman effective January 20, 2025)
Small Business Administration – Kelly Loeffler (effective February 19, 2025)
U.S. Department of Housing and Urban Development – Scott Turner (effective February 5, 2025)
Federal Housing Finance Agency – William Pulte (effective March 13, 2025)
U.S. Department of Education – Linda McMahon (effective March 3, 2025)
Financial Crimes Enforcement Network – Andrea Gacki (effective July 13, 2023)
PH Client Alerts
Click here to read more from our Coronavirus series.
Legislation/Legislative Updates
Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), enacted March 27, 2020.
Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, enacted April 24, 2020.
Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, enacted June 5, 2020.
Click here to view the full text of theConsolidated Appropriations Act, 2021, enacted December 27, 2020.
Click here to view the full text of the American Rescue Plan of 2021, enacted March 11, 2021.
Click here to view the full text of the PPP Extension Act of 2021, enacted March 30, 2021.
Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services and House Committee on Small Business
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