Daily Financial Regulation Update -- Monday, August 10, 2026

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Federal Agencies

Federal Reserve Board

G.19 Consumer Credit Statistics — June

August 7, 2026

The Federal Reserve Board released the G.19 consumer credit statistics for June 2026.

• Statistics

 

Federal Reserve Bank of New York

Short-Term Inflation Expectations Tick Down and Household Finance Expectations Improve

August 7, 2026

The Federal Reserve Bank of New York’s Center for Microeconomic Data released the July 2026 Survey of Consumer Expectations, which shows that households’ inflation expectations decreased slightly at the short-term horizon and remained unchanged at the medium- and longer-term horizons.

• Press Release
• Survey

 

Commodity Futures Trading Commission

CFTC Reminds Markets to Display Clear Pricing Information

August 7, 2026

The Division of Market Oversight and the Market Participants Division of the Commodity Futures Trading Commission recently issued a letter to remind commission-regulated entities involved in the listing, soliciting or acceptance of event contracts of their responsibility not to mislead consumers, including the obligation to display clear and accurate pricing information for derivatives products.

• Letter
• Press Release

 

Financial Crimes Enforcement Network

FinCEN Renews Minnesota Geographic Targeting Order

August 7, 2026

The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) renewed its Geographic Targeting Order (GTO), which seeks to combat fraud in Minnesota by imposing recordkeeping and reporting requirements on certain financial institutions.

• Order
• Press Release

 

US Department of Labor

Jobs Report — July

August 7, 2026

The Bureau of Labor Statistics released the Employment Situation Report for July 2026.

• Report

 

International

Financial Conduct Authority

FCA Applies Increased Scrutiny to Annex 1 Firms

August 7, 2026

The Financial Conduct Authority announced increased scrutiny of risks among unregulated lenders, safe custody providers and financial leasing companies.

• Statement

 

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)
• 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)
• Acting Director Mark Paoletta (Acting 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 – Mark Paoletta (Acting Director effective August 1, 2026); Nominee Brian Johnson (nominated June 10, 2026 – nomination hearing July 24, 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