PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, August 6, 2026
August 06, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
US Department of the Treasury
Report to the Secretary of the Treasury From the Treasury Borrowing Advisory Committee
August 5, 2026
The Treasury Borrowing Advisory Committee issued its report to Secretary of the Treasury Scott Bessent following its Aug. 4 meeting.
Quarterly Refunding Statement of Deputy Assistant Secretary Smith
August 5, 2026
Deputy Assistant Secretary for Federal Finance Brian Smith issued his quarterly refunding statement.
Federal Reserve Board
Speech: ‘Outlook for the US and Alaskan Economies’
August 5, 2026
Federal Reserve Board Gov. Lisa D. Cook gave a speech titled “Outlook for the U.S. and Alaskan Economies” at the 2026 Economic Luncheon of the Anchorage Economic Development Corporation in Anchorage.
Federal Reserve Bank of New York
Federal Reserve Banks of Dallas and New York to Launch Pilot Survey of the Private Credit Market
August 5, 2026
The Federal Reserve Bank of Dallas and the Federal Reserve Bank of New York announced the forthcoming launch of a pilot survey exploring lending trends in the U.S. private credit direct lending market.
Blog: ‘AI’s Impact on Labor and Hiring’
August 5, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “AI’s Impact on Labor and Hiring.”
Article: ‘The 2026 Innovation Conference: Frontiers of Technology and Finance’
August 5, 2026
The Federal Reserve Bank of New York published a The Teller Window article titled “The 2026 Innovation Conference: Frontiers of Technology and Finance.”
Federal Reserve Bank of Boston
Analysis: ‘Early Warning Signals in Private Credit? What BDC Portfolios Reveal about Emerging Risks’
August 5, 2026
The Federal Reserve Bank of Boston published a Current Policy Perspective analysis titled “Early Warning Signals in Private Credit? What BDC Portfolios Reveal about Emerging Risks.”
Securities and Exchange Commission
SEC Establishes Financial Reporting and Accounting Unit in Enforcement Division
August 5, 2026
The Securities and Exchange Commission announced it is establishing a new specialized unit within the Division of Enforcement to provide the dedicated expertise, focus and capacity to pursue accounting and financial reporting fraud cases as well as general misconduct in the accounting and auditing areas.
National Credit Union Administration
NCUA Board Approves 11 Final Rules for Deregulation Project
August 5, 2026
The National Credit Union Administration finalized 11 rules that were proposed for changes through the Deregulation Project. The final rules include:
- Surety and Guarantor Requirements
- Limits on Loan to Other Credit Unions
- Service to Underserved Areas
- Community Chartering Policies
- Federal Corporate Credit Union Chartering
- Notice of Termination of Excess Insurance Coverage
- Disclosure of Share Insurance for Non-Member Shares
- Organization and Operation of Federal Credit Unions
- Eligible Obligations
- Credit Union Service Contracts
- Third Party Servicing of Indirect Vehicle Loans
- Press Release
- Deregulation Project
International
European Banking Authority
The EBA Consults on Reporting Framework for Validation and Monitoring of ISDA Standard Initial Margin Model
August 5, 2026
The European Banking Authority is consulting on a new reporting framework to support the validation and ongoing monitoring of initial margin models based on the Standard Initial Margin Model developed by the International Swaps and Derivatives Association.
Bank of England
Artificial Intelligence Consortium Minutes — June
August 5, 2026
The Bank of England released the Artificial Intelligence Consortium minutes for the June 3 meeting.
Financial Conduct Authority
FCA Simplifies IPO Rules to Support UK Listings
August 5, 2026
The Financial Conduct Authority announced changes to the rules for initial public offerings that will remove the 7-day waiting period for connected research during an IPO and simplify information-sharing requirements for issuers and firms.
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
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