PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, January 23, 2026
January 23, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
U.S. Department of the Treasury
OFR Working Paper: ‘The Macroeconomic Consequences of Capital Constraints’
January 22, 2026
The Treasury Department’s Office of Financial Research released a working paper titled “The Macroeconomic Consequences of Capital Constraints.”
Federal Deposit Insurance Corporation
FDIC Board of Directors Establishes Office of Supervisory Appeals
January 22, 2026
The Federal Deposit Insurance Corporation’s (FDIC) board of directors approved amendments to the agency’s Guidelines for Appeals of Material Supervisory Determinations. Under the new guidelines, the FDIC is replacing the Supervision Appeals Review Committee with the Office of Supervisory Appeals, an independent, standalone office within the FDIC.
FDIC Board Approves Final Rule to Amend Official Signs and Advertising Requirements
January 22, 2026
The FDIC’s board of directors approved a final rule to amend regulations governing the display of the FDIC official digital sign and non-deposit signage.
Securities and Exchange Commission
Commodity Futures Trading Commission
SEC and CFTC to Hold Joint Event on Harmonization, US Financial Leadership in the Crypto Era
January 22, 2026
Securities and Exchange Commission Chairman Paul S. Atkins and Commodity Futures Trading Commission Chairman Michael S. Selig will hold a joint event on Jan. 27 at CFTC headquarters to discuss harmonization between the two agencies and their efforts to deliver on President Donald Trump’s promise to make the United States the crypto capital of the world.
Securities and Exchange Commission
SEC Approves 2026 PCAOB Budget and Accounting Support Fee
January 22, 2026
The Securities and Exchange Commission approved the 2026 budget for the Public Company Accounting Oversight Board and the related accounting support fee.
National Credit Union Administration
NCUA Board Briefed on Proposed Dependent Care Reimbursement Rule and Central Liquidity Facility Budget
January 22, 2026
The National Credit Union Administration held its first board meeting of 2026. The board heard briefings on a proposed rule for Dependent Care and Board Member Expense Reimbursement and the Central Liquidity Facility (CLF) 2026-27 budget.
Federal Housing Finance Agency
Foreclosure Prevention, Refinance and Federal Property Manager's Report — October 2025
January 22, 2026
The Federal Housing Finance Agency released the Foreclosure Prevention, Refinance and Federal Property Manager's Report for October 2025.
Ginnie Mae
Ginnie Mae Publishes FY 2025 Annual Financial Report
January 22, 2026
Ginnie Mae released its fiscal year 2025 Annual Financial Report.
International
Financial Conduct Authority
Speech: ‘Screening for success: Opening the gateway to growth’
January 22, 2026
Financial Conduct Authority Executive Director Sheree Howard gave a speech titled “Screening for success: Opening the gateway to growth.”
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
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