Daily Financial Regulation Update -- Wednesday, January 14, 2026

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Major Developments

U.S. Senate

Committee on Banking, Housing and Urban Affairs

Chairman Scott Releases Bipartisan Negotiated Market Structure Bill Text

January 12, 2026

Senate Banking Committee Chairman Tim Scott (R-SC) released a bipartisan manager’s amendment reflecting months of negotiations with Democratic colleagues.

• Bill Text
• Press Release

 

Congress

U.S. House of Representatives

Committee on Financial Services

Hearing: ‘Delivering for American Consumers: A Review of FinTech Innovations and Regulations’

January 13, 2026

The U.S. House Committee on Financial Services Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence held a hearing titled “Delivering for American Consumers: A Review of FinTech Innovations and Regulations.”

• Hearing
• Committee Memorandum
• Subcommittee Chair Steil Statement

 

Federal Agencies

U.S. Department of the Treasury

Secretary Bessent Convenes Finance Ministerial on Securing Critical Minerals Supply Chains

January 13, 2026

Secretary of the Treasury Scott Bessent convened a meeting of finance ministers at the United States Treasury to discuss solutions to secure and diversify supply chains for critical minerals, especially rare earth elements.

• Press Release

 

Federal Reserve Board

Working Paper: ‘To Find Relative Earnings Gains After the China Shock, Look Upstream and Outside Manufacturing’

January 13, 2026

The Federal Reserve Board published a working paper titled “To Find Relative Earnings Gains After the China Shock, Look Upstream and Outside Manufacturing.”

• Paper

 

Federal Reserve Bank of New York

Article: ‘Making Missing Markets: Connecting Communities and Capital’

January 13, 2026

The Federal Reserve Bank of New York published a The Teller Window article titled “Making Missing Markets: Connecting Communities and Capital.”

• Article

 

Federal Deposit Insurance Corporation

Travis Hill Sworn In as FDIC Chairman

January 13, 2026

Travis Hill was sworn in as the 23rd chairman of the Federal Deposit Insurance Corporation.

• Press Release

 

Securities and Exchange Commission

Statement on Reforming Regulation S-K

January 13, 2026

Securities and Exchange Commission Chair Paul S. Atkins issued a statement on reforming Regulation S-K.

• Statement

 

National Credit Union Administration

NCUA Announces Third Round of Deregulation Proposals

January 13, 2026

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

• Press Release

 

Ginnie Mae

Ginnie Mae Expands Digital Collateral Program to Include PIIT Transfers for eNote-Backed Securities

January 13, 2026

Ginnie Mae announced that mortgage-backed securities (MBS) funded by electronic promissory notes (eNotes) will be eligible for the agency’s Pools Issued for Immediate Transfer (PIIT) program, which allows approved issuers to transfer eligible pools at issuance under the agency’s Co-Issue program.

• Press Release
• All Participant Memo

 

Bank Policy Institute

Banking and Credit Union Groups: Credit Card Mandate Would Harm Consumers and Small Businesses

January 13, 2026

The American Bankers Association, America’s Credit Unions, Association of Military Banks of America, Bank Policy Institute, Community Development Bankers Association, Consumer Bankers Association, Defense Credit Union Council, Electronic Payments Coalition, Independent Community Bankers of America and National Bankers Association issued a joint statement after President Donald Trump expressed support for the Durbin-Marshall credit card mandate.

• Statement

 

International

Bank of England

International Central Bankers Issue Statement on Federal Reserve Chair Powell

January 13, 2026

Various international central bankers issued a statement in support of Federal Reserve Chair Jerome H. Powell following his statement on Jan. 11, 2026.

• Statement

 

Bank of England Prudential Regulation Authority
Financial Conduct Authority

Consultation Paper: ‘Financial Services Compensation Scheme – Management Expenses Levy Limit (MELL) 2026/27’

January 13, 2026

The Prudential Regulation Authority and Financial Conduct Authority released a consultation paper titled “Financial Services Compensation Scheme – Management Expenses Levy Limit (MELL) 2026/27.”

• Consultation Paper

 

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

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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