PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, August 26, 2026
August 26, 2026
By Lawrence D. Kaplan,Jason Shaferand Kris Knabe
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Major Developments
US Department of Housing and Urban Development/Federal Housing Administration
Consumer Financial Protection Bureau
Department of Justice
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
National Credit Union Administration
Federal Housing Finance Agency
Interagency Rescission of 2022 Statement on Special Purpose Credit Programs
August 25, 2026
The Department of Housing and Urban Development, the Consumer Financial Protection Bureau, the Department of Justice, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency and the Federal Housing Finance Agency announced a joint rescission of the Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B.
Federal Agencies
Federal Reserve Board
Minutes of the Board’s Discount Rate Meetings Held July 20 and July 29
August 25, 2026
The Federal Reserve Board released the minutes from its recent meetings held July 20 and July 29 to review and determine the discount rates provided to depository institutions through the discount window.
Federal Reserve Bank of Boston
Statement: ‘Perspectives on the Economy’
August 25, 2026
Federal Reserve Bank of Boston President and CEO Susan M. Collions issued a statement on her perspectives on the economy.
Federal Deposit Insurance Corporation
FDIC-Insured Institutions Reported Return on Assets of 1.37% and Net Income of $90.1 Billion in Q2 2026
August 25, 2026
The Federal Deposit Insurance Corporation released the results of its latest Quarterly Banking Profile, a comprehensive summary of financial results based on reports from 4,238 insured commercial banks and savings institutions.
US Small Business Administration
SBA Office of Inspector General Partners With the Department of Justice to Launch the National Fraud Detection Center
August 25, 2026
The U.S. Small Business Administration Office of the Inspector General announced its partnership with the U.S. Department of Justice in the launch of the National Fraud Detection Center.
Federal Housing Finance Agency
US House Prices Rise 2.1% Year Over Year; Up 0.3% Quarter Over Quarter
August 25, 2026
U.S. house prices rose 2.1% between Q2 2025 and Q2 2026, according to the U.S. Federal Housing (FHFA) House Price Index.
State Agencies
California Department of Financial Protection and Innovation
DFPI Opposes Federal Proposal to Change CAMELS
August 24, 2026
In a new comment letter, the California Department of Financial Protection and Innovation opposed federal regulators’ proposed changes to the nation’s bank rating system known as CAMELS.
International
European Banking Authority
EBA Consults on Revised Technical Standards for the Reclassification of Investment Firms as Credit Institutions
August 25, 2026
The European Banking Authority launched a consultation on three draft Regulatory Technical Standards (RTS) on the reclassification of investment firms as credit institutions when they exceed the €30 billion total assets threshold.
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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