PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Monday, June 15, 2026
June 15, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Congress
US House of Representatives
Committee on Financial Services
Field Hearing: ‘Examining the Structure of the Federal Reserve System’
June 12, 2026
The U.S. House Committee on Financial Services Task Force on Monetary Policy, Treasury Market Resilience and Economic Prosperity held a field hearing titled “Examining the Structure of the Federal Reserve System” in Oklahoma City, Oklahoma.
Federal Agencies
US Department of the Treasury
Remarks by the Treasury Secretary Before the Petroleum Club of Houston
June 12, 2026
Secretary of the Treasury Scott Bessent gave remarks before the Petroleum Club of Houston.
Remarks From Secretary Bessent at Event With Texas Bankers in Houston
June 12, 2026
Secretary of the Treasury Scott Bessent gave remarks at an event with Texas bankers in Houston on the role community banks play in protecting the financial system.
Commodity Futures Trading Commission
CFTC Sues New Mexico Over Attempting to Infringe on Federal Jurisdiction Regarding Prediction Markets
June 12, 2026
The Commodity Futures Trading Commission filed a lawsuit in federal court against the state of New Mexico seeking to block the state’s efforts to apply state gaming laws against CFTC-registered contract markets.
CFTC Issues No-Action Letter for DCMs Converting Existing Perpetual-Style Digital Commodity Futures Into True Digital Commodity Perpetual Futures
June 12, 2026
The Commodity Futures Trading Commission’s Division of Market Oversight announced it has issued no-action relief to designated contract markets seeking to convert their existing perpetual style digital commodity futures contracts into true digital commodity perpetual futures.
Financial Crimes Enforcement Network
FinCEN Issues Guidance to Help Financial Institutions Eliminate Fraud Through Information Sharing
June 12, 2026
The Department of the Treasury’s Financial Crimes Enforcement Network issued updated guidance to clarify how financial institutions can share information with each other about suspected fraud under Section 314(b) of the USA PATRIOT Act.
International
Bank of England
Policy Statement and Supervisory Statement: ‘Governance: Recognized Payment System Operators’
June 12, 2026
The Bank of England released a policy statement and supervisory statement titled “Governance: recognized payment system operators.”
Supervisory Statement: ‘Operational Resilience: Recognized Payment System Operators and Specified Service Providers’
June 12, 2026
The Bank of England released a supervisory statement titled “Operational resilience: recognized payment system operators and specified service providers.”
Agents’ Summary of Business Conditions — June 2026
June 12, 2026
The Bank of England released the Agent’s summary of business conditions survey for June 2026.
Bank of England/Ipsos Inflation Attitudes Survey — May 2026
June 12, 2026
The Bank of England released the Inflation Attitudes Survey for May 2026.
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)
- Stephen Miran (sworn in September 16, 2025)
- 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 (confirmed December 18, 2025)
Consumer Financial Protection Bureau – Russel Vought (Acting Director effective February 10, 2025)
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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