Daily Financial Regulation Update -- Thursday, January 22, 2026

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Congress

U.S. House of Representatives

Committee on Financial Services

Hearing: ‘Oversight of the Department of Housing and Urban Development and the Federal Housing Administration’

January 21, 2026

The U.S. House Committee on Financial Services held a hearing titled “Oversight of the Department of Housing and Urban Development and the Federal Housing Administration.” The committee heard testimony from Secretary of Housing and Urban Development Scott Turner.

• Hearing
• Committee Memorandum
• Chair Hill Statement
• Ranking Member Waters Statement
• Secretary Turner Testimony

 

Committee on Small Business

House Passes Bipartisan Small Business Bills

January 21, 2026

The House of Representatives passed five bipartisan small business bills to increase the Small Business Administration’s (SBA) transparency, reduce financial barriers for Main Street borrowers and provide entrepreneurs with the tools needed to navigate the emerging technology of artificial intelligence.

• Press Release

 

Subcommittee on Rural Development, Energy and Supply Chains Holds Hearing on the Growth of Data Centers in Rural America

January 21, 2026

The U.S. House Committee on Small Business Subcommittee on Rural Development, Energy and Supply Chains held a hearing titled “Empowering Rural America Through Investment in Innovation.”

• Press Release
• Subcommittee Chair Ellzey Statement

 

Federal Agencies

Federal Deposit Insurance Corporation

National Rates and Rate Caps — January 2026

January 21, 2026

The Federal Deposit Insurance Corporation released the national rates and rate caps for January 2026.

• Rates and Rate Caps

 

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