PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, July 16, 2026
July 16, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
Subscribe to PH FedACTion: Financial Regulatory Updates
Subscribe to the PHFintech: Crypto Policy Tracker
Congress
US Senate
Committee on Banking, Housing and Urban Affairs
Hearing: ‘The Semiannual Monetary Policy Report to the Congress’
July 15, 2026
The Senate Committee on Banking, Housing and Urban Affairs held a hearing titled “The Semiannual Monetary Policy Report to the Congress.” The committee heard testimony from Federal Reserve Chair Kevin Warsh.
- Hearing
- Committee Chair Scott Statement
- Committee Ranking Member Warren Statement
- Fed Chair Warsh Testimony
US House of Representatives
Committee on Financial Services
Hearing: ‘The Semi-Annual Report of the Bureau of Consumer Financial Protection’
July 15, 2026
The House Committee on Financial Services held a hearing titled “The Semi-Annual Report of the Bureau of Consumer Financial Protection.” The committee heard testimony from the Consumer Financial Protection Bureau’s Acting Director Russell Vought.
- Hearing
- Committee Memorandum
- Committee Chair Hill Statement
- Committee Ranking Member Waters Statement
- CFPB Director Vought Testimony
Federal Agencies
Federal Reserve Board
Beige Book — July
July 15, 2026
The Federal Reserve Board released the July 2026 Beige Book.
Speech: ‘Economic Outlook’
July 15, 2026
Federal Reserve Board Gov. Lisa D. Cook gave a speech on the economic outlook at the Exchequer Club of Washington, D.C.
Federal Reserve Bank of New York
Blog: ‘Capitalizing on Nonbanks: Regulatory Arbitrage Within Bank Holding Companies’
July 15, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Capitalizing on Nonbanks: Regulatory Arbitrage Within Bank Holding Companies.”
Empire State Manufacturing Survey — July
July 15, 2026
The Federal Reserve Bank of New York released the July 2026 results for the Empire State Manufacturing Survey.
Speech: ‘Stability of Thy Times’
July 15, 2026
Federal Reserve Bank of New York President John C. Williams gave a speech titled “Stability of Thy Times” at the Partnership for New York City in New York.
Presentation: ‘Regulation and the Boundaries of the Banking Firm’
July 15, 2026
Federal Reserve Bank of New York Head of Financial Intermediation Nicola Cetorelli gave a presentation titled “Regulation and the Boundaries of the Banking Firm” at the International Finance and Banking Society 2026 London conference, “Financial Regulation, Innovation and Growth: Building the Foundations for a Resilient Future.”
Office of the Comptroller of the Currency
Speech: ‘One Year Accomplishments’
July 15, 2026
Comptroller of the Currency Jonathan V. Gould issued remarks on his work and progress to ensure the continued relevance of the federal banking system and its ability to meet the evolving financial needs of the American people.
Financial Stability Oversight Council
Financial Stability Oversight Council Holds Meeting
July 15, 2026
U.S. Secretary of the Treasury Scott Bessent convened a meeting of the Financial Stability Oversight Council in an executive session at the Department of the Treasury on July 15.
International
Bank of England
Explainer: ‘What Is Tokenization?’
July 15, 2026
The Bank of England released an explainer titled “What is tokenization?”
Speech: ‘The Role of Research in Prudential Regulation’
July 15, 2026
Bank of England Executive Director of Prudential Policy David Bailey gave a speech titled “The role of research in Prudential Regulation” at the International Finance and Banking Society 2026 London conference.
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
Contributors
Practice Areas
For More Information