PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Monday, July 6, 2026
July 06, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
US Department of the Treasury
Treasury and IRS to Accept Philanthropic Stock Contributions for Trump Accounts
July 2, 2026
The Department of the Treasury announced that it will accept large philanthropic contributions of readily tradable public company stock to support Trump Accounts.
Federal Reserve Board
Working Paper: ‘The Standards Are in the Mail: Comparing Credit Card Supply Indicators’
July 2, 2026
The Federal Reserve Board published a working paper titled “The Standards Are in the Mail: Comparing Credit Card Supply Indicators.”
Federal Reserve Bank of Boston
Working Paper: ‘Prices Versus Quantities Revisited: What Do Policymakers Need to Know to Set Pigouvian Taxes and Subsidies?’
July 2, 2026
The Federal Reserve Bank of Boston published a working paper titled “Prices Versus Quantities Revisited: What Do Policymakers Need to Know to Set Pigouvian Taxes and Subsidies?”
Federal Deposit Insurance Corporation
Consolidated Reports of Condition and Income for Q2
July 2, 2026
The Federal Deposit Insurance Corporation released the consolidated reports of condition and income for the second quarter.
US Department of Labor
Jobs Report — June 2026
July 2, 2026
The Bureau of Labor Statistics released the Employment Situation Report for June 2026.
International
European Banking Authority
Targeted EBA Peer Review Finds High Compliance on Pillar 3 Disclosures but Calls for Greater Consistency
July 2, 2026
The European Banking Authority published the results of its targeted peer review on the supervision of compliance with the Capital Requirements Regulation and the Bank Recovery and Resolution Directive provisions aiming to facilitate market discipline through bank disclosure.
Bank of England
Credit Conditions Survey — Q2
July 2, 2026
The Bank of England released the results of the Credit Conditions Survey for the second quarter.
Bank Liabilities Survey — Q2
July 2, 2026
The Bank of England released the results of the Bank Liabilities Survey for the second quarter.
Speech: ‘Mixed Signals, Research Findings and Policy Judgements’
July 2, 2026
Monetary Policy Committee member Catherine L. Mann gave a speech titled “Mixed signals, research findings and policy judgements” at the Natixis CIB Private Debt Forum.
Minutes of the London FXJSC Legal Sub Committee Meeting — March 17
July 2, 2026
The Bank of England released the minutes of the London Foreign Exchange Joint Standing Committee Legal Sub-Committee meeting held March 17.
Minutes of the London FXJSC Operations Sub-Committee Meeting — March 18
July 2, 2026
The Bank of England released the minutes of the London Foreign Exchange Joint Standing Committee Operations Sub-Committee meeting held March 18.
Minutes of the London FXJSC Main Committee Meeting — March 26
July 2, 2026
The Bank of England released the minutes of the London Foreign Exchange Joint Standing Committee main committee meeting held March 26.
Financial Conduct Authority
Financial Regulator to Simplify Investment Disclosure Regime
July 2, 2026
The Financial Conduct Authority is proposing to simplify how platforms, advisers and wealth managers communicate the costs of investing while reminding firms to communicate with consumers about investing in plain English.
Pension Firms Must Do More for Customers in Older Pensions and Fund Savings
July 2, 2026
The FCA released the results of a multifirm review that found that people holding legacy pension products, now closed to new savers, could be receiving poorer value than those in newer ones.
Payments Vision Delivery Committee Update on Future Retail Payments Infrastructure
July 2, 2026
The Retail Payments Infrastructure Board, led by the Bank of England, recently published a consultation on the future retail payments infrastructure. To support the consultation, the Payment Vision Delivery Committee, which comprises representatives of HM Treasury, the FCA, Bank of England and the PSR, has published further context to support stakeholders’ reading of the consultation.
Motor Finance Scheme Partially Suspended
July 2, 2026
The Upper Tribunal has made an order suspending parts of the scheme. The FCA issued a statement setting out what the partial suspension means for firms and consumers.
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)
- 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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