PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, June 24, 2026
June 24, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
US Senate Passes 21st Century ROAD to Housing Act
June 22, 2026
The Senate passed the 21st Century ROAD to Housing Act, sending the legislation to the White House.
Congress
US Senate
Committee on Banking, Housing and Urban Affairs
Hearing: ‘The Affordability Agenda’
June 23, 2026
The Senate Committee on Banking, Housing and Urban Affairs held a hearing titled “The Affordability Agenda.”
Minority Staff Release New Report: ‘American National Security for Sale’
June 23, 2026
The minority staff of the Senate Banking, Housing and Urban Affairs Committee released a new report detailing how officials and entities affiliated with the United Arab Emirates made unprecedented investments in the Trump family’s cryptocurrency company World Liberty Financial and how the Trump administration subsequently took at least 10 policy actions benefiting the UAE.
Federal Agencies
US Department of the Treasury
Treasury Dismantles Overseas Scam Operations Targeting Americans
June 23, 2026
The Department of the Treasury took coordinated action to further disrupt the Prince Group Transnational Criminal Organization (Prince Group TCO). Treasury’s Office of Foreign Assets Control (OFAC) sanctioned nine individuals and 26 entities linked to Prince Group TCO, including TCO leadership, investors in scam compounds and front companies. In parallel, Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed amending its October 2025 Huione Group Final Rule to include H-Pay Service PLC and any successor entity.
Federal Reserve Board
Working Paper: ‘The Response of Equity Yields to a Long-Run Shock’
June 23, 2026
The Federal Reserve Board published a working paper titled “The Response of Equity Yields to a Long-Run Shock.”
Federal Reserve Bank of New York
Blog: ‘Synthetic Stablecoins and Financial Stability’
June 23, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Synthetic Stablecoins and Financial Stability.”
Federal Reserve Bank of Boston
Report: ‘How Do the Availability and Cost of Childcare Influence Women’s Labor Market Outcomes in New England?’
June 23, 2026
The Federal Reserve Bank of Boston published a research report titled “How Do the Availability and Cost of Childcare Influence Women’s Labor Market Outcomes in New England?”
Commodity Futures Trading Commission
CFTC Sues Kentucky to Prevent Violation of CFTC’s Exclusive Jurisdiction
June 23, 2026
The Commodity Futures Trading Commission filed a lawsuit against Kentucky to block the state’s efforts to shut down CFTC-registered contract markets using state laws.
CFTC Chair’s Keynote Remarks at American Cotton Shippers Association Annual Convention
June 23, 2026
Commodity Futures Trading Commission Chair Michael S. Selig gave remarks at the American Cotton Shippers Association Annual Convention.
Federal Financial Institutions Examination Council
FFIEC Publishes 2025 Data on Mortgage Lending
June 23, 2026
The Federal Financial Institutions Examination Council recently published data on 2025 mortgage lending transactions reported under the Home Mortgage Disclosure Act by 4,782 U.S. financial institutions.
International
Bank of England
Speech: ‘Central Reservations’
June 23, 2026
Monetary Policy Committee Member Alan Taylor gave a speech titled “Central reservations” at the Barclays-CEPR Monetary Policy Forum.
Financial Conduct Authority
Insurance Financial Crime Controls — Multi-Firm review
June 23, 2026
The Financial Conduct Authority released a multi-firm review setting out its findings on insurance financial crime controls.
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 – SCOTUS hearing on purported termination to be held in January 21, 2026)
- 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)
- 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 (effective December 22, 2025)
Consumer Financial Protection Bureau – Russel Vought (Acting Director effective February 10, 2025); Nominee Brian Johnson (nominated June 10, 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
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