PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, April 2, 2026
April 02, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Office of the Comptroller of the Currency
OCC Rescinds Recovery Planning Guidelines for National Banks, Savings Associations and Federal Branches
March 31, 2026
The Office of the Comptroller of the Currency is rescinding its guidelines establishing standards for recovery planning by certain large insured national banks, federal savings associations and federal branches at 12 CFR 30, appendix E.
Federal Agencies
U.S. Department of the Treasury
Treasury Seeks Public Comment on GENIUS Act
April 1, 2026
The U.S. Department of the Treasury issued a notice of proposed rulemaking (NPRM) seeking public comment related to Treasury’s implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.
Federal Reserve Board
Speech: ‘Supporting Small Businesses’
March 31, 2026
Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman gave a speech titled “Supporting Small Businesses” at the Consumer Bankers Association’s CBA LIVE 26 conference in San Diego, CA.
Commodity Futures Trading Commission
CFTC Resolves Action Against Former FTX Head of Engineering
April 1, 2026
The Commodity Futures Trading Commission (CFTC) announced that the U.S. District Court for the Southern District of New York entered a supplemental consent order against Nishad Singh, the former head of engineering at FTX.
CFTC Chairman Delivers Remarks on First 100 Days
April 1, 2026
CFTC Chairman Michael S. Selig delivered remarks on his first 100 days at the helm.
National Credit Union Administration
NCUA Releases 2025 Annual Report
April 1, 2026
The National Credit Union Administration released its 2025 Annual Report highlighting the agency’s activities and accomplishments over the past year.
International
Bank of England
Bank of England and PRA Respond to Letter From Cabinet Members on AI-Driven Innovation
April 1, 2026
Bank of England Deputy Gov. Sarah Breeden and Prudential Regulation Authority Deputy Gov. Sam Woods published a response to a Jan. 28 letter on AI-driven innovation from the chancellor of the exchequer; the secretary of state for science, innovation and technology; and the secretary of state for business and trade.
Bank of England Publishes Feedback on Gilt Repo Market Discussion Paper
April 1, 2026
The Bank of England published a feedback statement on a September 2025 discussion paper titled “Enhancing the resilience of the gilt repo market.” The statement outlines how the bank intends to progress this work.
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
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