PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday, August 11, 2026
August 11, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
US Department of the Treasury
Remarks From Secretary Bessent at Joint Base Lindsey Graham Renaming Ceremony
August 10, 2026
Secretary of the Treasury Scott Bessent gave remarks at the Joint Base Lindsey Graham Renaming Ceremony.
Treasury Releases CFIUS Annual Report for 2025
August 7, 2026
The Department of the Treasury, as chair of the Committee on Foreign Investment in the United States (CFIUS), released its annual report to Congress for 2025.
Treasury Sanctions Crypto Exchanges Funding Iran’s IRGC and Enabling Illicit Finance
August 7, 2026
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is moving against digital asset exchanges that the Iranian regime relies on to launder billions of dollars, maintain covert access to international financial systems and support the Islamic Revolutionary Guard Corps (IRGC), among other terrorist groups.
Treasury Dismantles Iranian Regime’s Global Clandestine Currency Networks
August 7, 2026
The Department of the Treasury’s Office of Foreign Assets Control took action against multiple networks spanning several countries for enabling Iran’s rahbar banking system to move hundreds of millions of dollars.
Federal Reserve Bank of New York
Blog: ‘Stripping STRIPs Trading Activity’
August 10, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Stripping STRIPs Trading Activity.”
Federal Reserve Bank of Boston
Paper: ‘What Ties Us Together? Explaining Synchronized GDP Volatility’
August 10, 2026
The Federal Reserve Bank of Boston’s research department published a working paper titled “What Ties Us Together? Explaining Synchronized GDP Volatility.”
Federal Deposit Insurance Corporation
FDIC Announces New Review Process for Deposit Insurance Applications
August 10, 2026
The Federal Deposit Insurance Corporation announced a new two-phase process the agency will use to review new deposit insurance applications.
Securities and Exchange Commission
Commissioner’s Update on the SEC’s Work Toward Treasury Clearing Implementation
August 10, 2026
Securities and Exchange Commission Commissioner Mark T. Uyeda issued an update on the SEC’s work toward implementation of the Treasury Clearing Rule.
International
Financial Conduct Authority
FCA Boosts Support for Innovative Firms as They Scale and Grow
August 10, 2026
Five fast-growing firms have joined the Financial Conduct Authority’s Scale-Up Unit, receiving tailored support to help them innovate, navigate regulation and grow sustainably.
High-Growth Firms: Good and Poor Practice
August 10, 2026
The Financial Conduct Authority released good and poor practice guidance for high-growth firms.
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)
- Acting Director Mark Paoletta (Acting 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 – Mark Paoletta (Acting Director effective August 1, 2026); Nominee Brian Johnson (nominated June 10, 2026 – nomination hearing July 24, 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
Practice Areas
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