Daily Financial Regulation Update -- Wednesday, April 22, 2026

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Congress

U.S. House of Representatives

Committee on Small Business

Speech: ‘Independent Work, Real Opportunity: The Gig Economy and the Future of Entrepreneurship’

April 21, 2026

Rep. Roger Williams (R-TX), chairman of the House Committee on Small Business, delivered the opening statement at a committee hearing titled “Independent Work, Real Opportunity: The Gig Economy and the Future of Entrepreneurship.”

• Speech

 

Federal Agencies

U.S. Department of the Treasury

Treasury Announces Sanctions Against Iranian Weapons Procurement Networks

April 21, 2026

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that it is sanctioning 14 individuals, entities and aircraft based in Iran, Türkiye and the United Arab Emirates (UAE) for their involvement in procuring or transporting weapons or weapons components on behalf of the Iranian regime.

• Press Release

 

Federal Reserve Board

Speech: ‘Modernizing Federal Reserve Operations in the 21st Century’

April 21, 2026

Governor Christopher J. Waller gave a speech titled, “Modernizing Federal Reserve Operations in the 21st Century” at the Brookings Institution in Washington, D.C.

• Speech

 

National Credit Union Administration

NCUA Announces 10th Round of Deregulation Proposals

April 21, 2026

The National Credit Union Administration announced the 10th round of proposed regulatory changes associated with NCUA’s Deregulation Project.

• Proposed Rule
• Press Release

 

Bank Policy Institute

BPI: Proposed OCC Changes Would Help Fix a Broken Supervisory Appeals System

April 21, 2026

The Office of the Comptroller of the Currency’s proposed changes to its framework for banks’ appeals of supervisory decisions would restore confidence, bolster accountability and improve transparency in the appeals process, the Bank Policy Institute (BPI), Independent Community Bankers of America and American Association of Bank Directors said in a comment letter filed April 20.

• Proposed Rule
• Comment Letter
• Press Release

 

International

Financial Conduct Authority

Speech: ‘Supporting FinTech in the Next Phase of Innovation’

Financial Conduct Authority Chief Data, Information and Intelligence Officer Jessica Rusu gave a speech titled “Supporting FinTech in the Next Phase of Innovation” at U.K. FinTech Week.

• Speech

 

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