Daily Financial Regulation Update -- Tuesday, January 20, 2026

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Major Developments

Office of the Comptroller of the Currency

Comptroller of the Currency Gives Speech on Revising Resolution Planning

January 16, 2026

Comptroller of the Currency Jonathan Gould gave a speech addressing desired changes in the Resolution Planning requirements for banks — potentially eliminating CIDI Plans that are not directly required by applicable law and modifying the pace for Section 165 of Dodd Frank resolution plans by certain large bank holding companies and nonbank financial companies supervised by the Federal Reserve.

• Remarks

 

Federal Agencies

Federal Reserve Board

Working Paper: ‘The Spillovers of LSAPs on Banks in the Euro Area’

January 16, 2026

The Federal Reserve Board published a working paper titled “The Spillovers of LSAPs on Banks in the Euro Area.”

• Paper

 

Speech: ‘Outlook for the Economy and Monetary Policy’

January 16, 2026

Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman gave a speech titled “Outlook for the Economy and Monetary Policy” at Outlook 26: The New England Economic Forum in Foxborough, MA.

• Speech

 

Speech: ‘Economic Outlook and Monetary Policy Implementation’

January 16, 2026

Federal Reserve Board Vice Chair Philip N. Jefferson gave a speech titled “Economic Outlook and Monetary Policy Implementation” at the American Institute for Economic Research, Shadow Open Market Committee, and Florida Atlantic University Conference in Boca Raton, FL.

• Speech

 

Federal Reserve Bank of New York

Article: ‘How Monetary Policy Tools Helped Limit Money Market Pressures at Year‑End’

January 16, 2026

The Federal Reserve Bank of New York published a The Teller Window article titled “How Monetary Policy Tools Helped Limit Money Market Pressures at Year‑End.”

• Article

 

Business Leaders Survey — January

January 16, 2026

Business activity in New York, New Jersey and southern Connecticut continued to decline significantly in the service sector in January, according to firms responding to the Federal Reserve Bank of New York’s Business Leaders Survey.

• Report
• Overview

 

Federal Reserve Bank of Boston

Boston Fed President Gives Remarks at Outlook 26: The New England Economic Forum

January 16, 2026

Federal Reserve Bank of Boston President and CEO Susan M. Collins delivered opening remarks at “Outlook 26: The New England Economic Forum.”

• Remarks

 

Securities and Exchange Commission

SEC Chair Delivers Remarks at the Tel Aviv Stock Exchange

January 16, 2026

Securities and Exchange Commission Chair Paul S. Atkins gave remarks at the Tel Aviv Stock Exchange.

• Remarks

 

International

Bank of England

Working Paper: ‘Product innovation in the UK mortgage market: the case of green mortgages’

January 16, 2026

The Bank of England published a staff working paper titled, “Product innovation in the UK mortgage market: the case of green mortgages.”

• Paper

 

Governor Delivers Remarks: ‘Global imbalances in a more fragmented world’

January 16, 2026

Bank of England Governor Andrew Bailey gave remarks titled “Global imbalances in a more fragmented world.”

• Remarks

 

Financial Conduct Authority

FCA Releases Results of Multifirm Review of Customer Outcomes Delivered by Smaller Mutual Life Insurers

January 16, 2026

The Financial Conduct Authority released the results of a multifirm review on how smaller mutual life insurers meet Consumer Duty requirements and deliver good customer outcomes, sharing good practices and expectations.

• Review

 

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