PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, February 18, 2026
February 18, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
Subscribe to PH FedACTion: Financial Regulatory Updates
Subscribe to the PHFintech: Crypto Policy Tracker
Federal Agencies
Federal Reserve Board
Speech: ‘What Will Artificial Intelligence Mean for the Labor Market and the Economy?’
February 17, 2026
Federal Reserve Board Gov. Michael S. Barr gave a speech titled “What Will Artificial Intelligence Mean for the Labor Market and the Economy?” at the New York Association for Business Economics in New York.
Speech: ‘Revitalizing Bank Mortgage Lending, One Step with Basel’
February 16, 2026
Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman gave a speech titled “Revitalizing Bank Mortgage Lending, One Step with Basel” at The American Bankers Association 2026 Conference for Community Bankers in Orlando, Florida.
Federal Reserve Bank of New York
Empire State Manufacturing Survey — February 2026
February 17, 2026
The Federal Reserve Bank of New York published the results of the Empire State Manufacturing Survey for February 2026.
Blog: ‘Seeing Through the Shutdown’s Missing Inflation Data’
February 17, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Seeing Through the Shutdown’s Missing Inflation Data.”
Federal Reserve Bank of Boston
Working Paper: ‘A Framework for Understanding the Vulnerabilities of New Money-Like Products’
February 17, 2026
The Federal Reserve Bank of Boston released a working paper titled “A Framework for Understanding the Vulnerabilities of New Money-Like Products.”
Federal Deposit Insurance Corporation
National Rates and Rate Caps — February 2026
February 17, 2026
The Federal Deposit Insurance Corporation released the national rates and rate caps for February 2026.
Office of the Comptroller of the Currency
OCC Requests Comment on Proposed Rulemaking on the Bank Appeals Process
February 17, 2026
The Office of the Comptroller of the Currency (OCC) requested comment on a proposal to establish revised procedures and policies for appeals by OCC-supervised entities of material supervisory determinations.
Securities and Exchange Commission
SEC Chair Delivers Remarks at Texas A&M School of Law Corporate Law Symposium
February 17, 2026
Securities and Exchange Commission Chair Paul S. Atkins gave remarks at the Texas A&M School of Law Corporate Law Symposium.
Commodity Futures Trading Commission
CFTC Reaffirms Exclusive Jurisdiction Over Prediction Markets
February 17, 2026
The Commodity Futures Trading Commission filed an amicus brief in the U.S. Court of Appeals for the Ninth Circuit asserting that it has exclusive jurisdiction over the U.S. commodity derivatives markets, including event contract markets commonly referred to as prediction markets.
Consumer Financial Protection Bureau
Report: ‘Estimating the Cost of the Consumer Financial Protection Bureau to Consumers’
February 17, 2026
The Consumer Financial Protection Bureau released a report titled “Estimating the Cost of the Consumer Financial Protection Bureau to Consumers.”
National Credit Union Administration
NCUA Issues Release on FinCEN’s Exceptive Relief on Bank Secrecy Act Requirement for Credit Unions
February 17, 2026
The National Credit Union Administration issued a press release outlining exceptive relief regarding the Customer Due Diligence regulation relating to credit unions.
International
Bank of England
Bank of England Announces Summary of AI Roundtables
February 16, 2026
The Bank of England held roundtable meetings with representatives from regulated firms on the responsible adoption of artificial intelligence and machine learning (AI and ML) to better understand the constraints that firms may be facing.
Bank of England Prudential Regulation Authority
Consultation Paper: ‘Reforms to securitisation requirements’
February 17, 2026
The Prudential Regulation Authority released a consultation paper titled “Reforms to securitisation requirements.”
Financial Conduct Authority
Consultation Paper: ‘Rules for reforming the UK Securitisation Framework’
February 17, 2026
The Financial Conduct Authority released a consultation paper titled “Rules for reforming the UK Securitisation Framework.”
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
Contributors
Practice Areas
For More Information