Daily Financial Regulation Update -- Friday, June 12, 2026

Subscribe to PH FedACTion: Financial Regulatory Updates
Subscribe to the PHFintech: Crypto Policy Tracker

 

Major Developments

Office of the Comptroller of the Currency

OCC Proposes New Information Collection for Permitted Payment Stablecoin Issuers Under GENIUS Act

June 11, 2026

The Office of the Comptroller of the Currency proposed a new information collection that would include weekly and quarterly reporting forms that must be completed by permitted payment stablecoin issuers and foreign payment stablecoin issuers registered with the OCC under the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

• Bulletin
• Notice and Request for Comment

 

Congress

US Senate

Committee on Banking, Housing and Urban Affairs

Hearing: ‘AI and the American Dream: Promoting Innovation, Affordability and American Dominance’

June 11, 2026

The U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing titled “AI and the American Dream: Promoting Innovation, Affordability and American Dominance.”

• Hearing
• Chair Scott Statement
• Ranking Member Warren Statement

 

Federal Agencies

Department of the Treasury
Federal Reserve Board
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
National Credit Union Administration
Consumer Financial Protection Bureau
Securities and Exchange Commission
Federal Housing Finance Agency

Agencies Announce Final Rule Establishing Data Standards for Certain Information Collections

June 11, 2026

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Consumer Financial Protection Bureau, the Federal Housing Finance Agency, the Commodity Futures Trading Commission, the Securities and Exchange Commission and the Department of Treasury issued a joint final rule to implement the Financial Data Transparency Act of 2022.

• Final Rule
• Fed Board Memo
• Fed Press Release
• OCC Bulletin
• FDIC Financial Institution Letter

 

Securities and Exchange Commission

SEC Proposes Rescission of Regulation NMS Rules 611 and 610(e)

June 11, 2026

The Securities and Exchange Commission proposed amendments to rescind Rules 611 and 610(e) of Regulation NMS.

• Proposed Amendments
• Fact Sheet
• Press Release
• Chair Atkins Statement
• Commissioner Peirce Statement
• Commissioner Uyeda Statement

 

Commodity Futures Trading Commission

CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning Whistleblower Rules

June 11, 2026

The Commodity Futures Trading Commission published a notice of proposed rulemaking to amend its whistleblower rules.

• Proposed Rule
• Press Release

 

Bank Policy Institute

BPI Issues Comment Letters on Anti-Money Laundering Framework

June 11, 2026

The Bank Policy Institute and The Clearing House Association issued two comment letters regarding the nation’s anti-money laundering framework. The first comment letter focuses on a recent regulatory proposal that would allow banks’ anti-money laundering (AML) programs to focus their resources on the most urgent threats. The second letter emphasizes the meaningful gaps in AML/CFT obligations in the secondary market for payment stablecoins and other digital assets.

• First Letter
• Second Letter
• Press Release

 

International

European Banking Authority

​EBA Launches Early Consultation on Simplified EU-Wide Stress Test With Climate Risk Integration

June 11, 2026

The European Banking Authority published the draft methodology, templates and template guidance for the 2027 EU-wide stress test.

• Press Release

 

Bank of England

Market Notice: Changes to Collateral Eligibility in the Sterling Monetary Framework

June 11, 2026

The Bank of England released a market notice that covers changes to the bank’s collateral eligibility framework for the Sterling Monetary Framework.

• Notice

 

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)
• Stephen Miran (sworn in September 16, 2025)
• 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 (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