Daily Financial Regulation Update -- Friday, August 7, 2026

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Congress

US Senate

Committee on Banking, Housing and Urban Affairs

Hearing: ‘Empowering Main Street by Unlocking Access to Capital’

August 6, 2026

The Senate Committee on Banking, Housing and Urban Affairs held a hearing titled “Empowering Main Street by Unlocking Access to Capital.”

• Hearing
• Chair Scott Statement
• Ranking Member Warren Statement

 

Federal Agencies

US Department of the Treasury

Office of the Comptroller of the Currency

Remarks From Secretary Bessent and Comptroller Gould to the Arizona Bankers Association

August 6, 2026

Secretary of the Treasury Scott Bessent and Comptroller of the Currency Jonathan Gould gave remarks on efforts to alleviate the regulatory burden on community banks and drive economic growth on Main Street while protecting the U.S. financial system from illicit activities at the Arizona Bankers Roundtable in Phoenix.

• Bessent Remarks
• Gould Remarks

 

Federal Reserve Board

Working Paper: ‘Inflation Uncertainty and Endogenous Planning Horizons’

August 6, 2026

The Federal Reserve Board published a working paper titled “Inflation Uncertainty and Endogenous Planning Horizons.”

• Paper

 

Federal Reserve Bank of New York

Blog: ‘Why Do Fewer Renters Expect to Move?’

August 6, 2026

The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Why Do Fewer Renters Expect to Move?”

• Blog

 

Article: ‘Listening to Community Leaders in Buffalo and Rochester’

August 6, 2026

The Federal Reserve Bank of New York published a The Teller Window article titled “Listening to Community Leaders in Buffalo and Rochester.”

• Article

 

Federal Housing Finance Agency

FHL 2025 Bank Mission Activities Report

August 6, 2026

The Federal Housing Finance Agency released the FHL 2025 Bank Mission Activities Report.

• Report

 

International

European Banking Authority

EBA’s ESG Risk Dashboard Shows Stable Climate Risk Exposures and Continued Improvements in Data Quality

August 6, 2026

The European Banking Authority published its latest environmental, social and governance (ESG) risk dashboard, showing continued stability in banks’ transition and physical climate risk indicators across the EU/EEA in second half of 2025.

• Press Release

 

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