Daily Financial Regulation Update -- Monday, March 9, 2026

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Federal Agencies

Federal Reserve Board

Working Paper: ‘Quantifying Deregulation and its Economic Effects: A Large Language Model Approach’

March 6, 2026

The Federal Reserve Board published a working paper titled “Quantifying Deregulation and its Economic Effects: A Large Language Model Approach.”

• Paper

 

Working Paper: ‘Income Mobility of the Top One Percent’

March 6, 2026

The Federal Reserve Board published a working paper titled “Income Mobility of the Top One Percent.”

• Paper

 

Federal Reserve Bank of Boston

Article: ‘New England Economic Conditions Through March 3, 2026’

March 6, 2026

The Federal Reserve Bank of Boston published an article titled “New England Economic Conditions Through March 3, 2026.”

• Article

 

Speech: ‘Observations on the Economic Outlook, and Small Business’

March 6, 2026

Federal Reserve Bank of Boston President and CEO Susan M. Collins gave a speech titled “Observations on the Economic Outlook, and Small Business” at the Springfield Regional Chamber’s 2026 Outlook event.

• Speech

 

Financial Crimes Enforcement Network

Financial Action Task Force Identifies Jurisdictions With AML/CFT/CPF Deficiencies

March 6, 2026

The Financial Crimes Enforcement Network (FinCEN) is informing U.S. financial institutions that the Financial Action Task Force (FATF), an intergovernmental body that establishes international standards for anti-money laundering, countering the financing of terrorism and countering the financing of proliferation of weapons of mass destruction (AML/CFT/CPF), updated its lists of jurisdictions with strategic AML/CFT/CPF deficiencies at the conclusion of its plenary meeting last month.

• Press Release

 

National Credit Union Administration

NCUA Releases Q4 2025 Credit Union System Performance Data

March 6, 2026

The National Credit Union Administration released its Q4 credit union system performance data for 2025.

• Report
• Press Release

 

U.S. Department of Labor

BIS Releases February 2026 Jobs Report

March 6, 2026

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

• Report

 

International

Bank of England

External Business of Monetary Financial Institutions Operating in the UK — Q4 2025

March 6, 2026

The Bank of England released statistics on claims on and liabilities to other countries by U.K.-resident banks and building societies (monetary financial institutions) for Q4 2025.

• Statistics

 

Administration Changes

Vacancies

Appointments

U.S. Department of the Treasury – Scott Bessent (effective January 27, 2025)

Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)

• 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 2026)
• Stephen Miran (sworn in September 16, 2025)

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 (Acting Chairman effective January 20, 2025, nominated to be Chair September 30, 2025 and Confirmed December 18, 2025)

• 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