Daily Financial Regulation Update -- Monday, August 17, 2026

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Federal Agencies

Federal Reserve Board

Working Paper: ‘Occupational Complexity, Capital-Skill Complementarity and the Evolution of US Wage Inequality: A Quantitative Analysis’

August 14, 2026

The Federal Reserve Board published a working paper titled “Occupational Complexity, Capital-Skill Complementarity, and the Evolution of U.S. Wage Inequality: A Quantitative Analysis.”

• Paper

 

Office of the Comptroller of the Currency

OCC Releases Annual Update to Bank Accounting Advisory Series

August 14, 2026

The Office of the Comptroller of the Currency released its annual update to the bank accounting advisory series.

• Press Release
• Bulletin

 

Securities and Exchange Commission

Updated Statement Regarding the Division of Corporation Finance’s Role in the Exchange Act Rule 14a-8 Process

August 14, 2026

The Securities and Exchange Commission’s Division of Corporation Finance issued a statement announcing that the division has determined to discontinue responding to Rule 14a-8 no-action requests.

• Press Release

 

Consumer Financial Protection Bureau

CFPB to Cease Discretionary Publication of Complaint Narratives and Visualizations

August 14, 2026

The CFPB will no longer publish unverified complaint narratives and visualizations.

• Press Release

 

Freddie Mac

Freddie Mac Discloses Dodd-Frank Act Stress Test Results

August 14, 2026

Freddie Mac posted the results of its 2026 stress test for the severely adverse scenario conducted under U.S. Federal Housing’s implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

• Press Release

 

International

Bank of England

Working Paper: ‘Outsourcing and Competition in the Banking Sector: The Rise of Cloud Service Providers’

August 14, 2026

The Bank of England published a staff working paper titled “Outsourcing and competition in the banking sector: the rise of Cloud Service Providers.”

• Working Paper

 

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