PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, March 5, 2026
March 05, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Congress
U.S. House of Representatives
Committee on Financial Services
Committee Holds Markup on Various Measures
March 4, 2026
The U.S. House Committee on Financial Services held a markup on the following pieces of legislation:
H.R. 2071, the Save Our Shrimpers Act
H.R. 4171, the Small Entrepreneurs’ Empowerment and Development (SEED) Act of 2025
H.R. 6955, the Main Street Capital Access Act
H.R. 7127, the Restoring the Secondary Trading Market Act
H.R. 7688, the DPA Modernization Act of 2026
Federal Agencies
Federal Reserve Board
Beige Book — March 2026
March 4, 2026
The Federal Reserve Board released the Beige Book for March 2026.
OIG Releases Financial Institutions Examination Council Audit Report
March 4, 2026
The Office of Inspector General of the Federal Reserve Board published a report titled “Federal Financial Institutions Examination Council Financial Statements as of and for the Years Ended December 31, 2025 and 2024, and Independent Auditors’ Report.”
Federal Reserve Bank of New York
Blog: ‘Firms’ Inflation Expectations Return to 2024 Levels’
March 4, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Firms’ Inflation Expectations Return to 2024 Levels.”
Blog: ‘Are Rising Employee Health Insurance Costs Dampening Wage Growth?’
March 4, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Are Rising Employee Health Insurance Costs Dampening Wage Growth?”
Blog: ‘What’s Driving Rising Business Costs?’
March 4, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “What’s Driving Rising Business Costs?”
Securities and Exchange Commission
SEC Chair Gives Remarks at Financial Stability Oversight Council AI Roundtable
March 4, 2026
Securities and Exchange Commission Chair Paul S. Atkins gave remarks at the Financial Stability Oversight Council Artificial Intelligence Innovation Series Roundtable on Strategy and Governance Principles.
Bank Policy Institute
BPI Issues Statement on Kraken Master Account
March 4, 2026
The Bank Policy Institute issued a statement in response to the Federal Reserve Bank of Kansas City’s approval of a master account request for Kraken.
International
Bank of England
Bank of England Releases Consultation Paper on New CCP Mobilization Powers
March 4, 2026
The Bank of England released a consultation paper titled “The Bank of England’s approach to using its requirements and permissions powers to facilitate mobilisation of new CCPs.”
Financial Conduct Authority
Speech: ‘Consumer investments priorities: strengthening trust, supporting investors’
March 4, 2026
Financial Conduct Authority (FCA) Director of Consumer Investments Lucy Castledine gave a speech titled “Consumer investments priorities: strengthening trust, supporting investors” at the TISA Inclusive Investing Conference 2026.
Motor Finance Compensation Scheme to Include Implementation Period
March 4, 2026
The FCA announced that it is considering over 1,000 responses to proposals for a compensation scheme for motor finance customers who were treated unfairly.
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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