PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, May 14, 2026
May 14, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
Subscribe to PH FedACTion: Financial Regulatory Updates
Subscribe to the PHFintech: Crypto Policy Tracker
Federal Agencies
Federal Reserve Board
Senate Confirms Kevin Warsh as Next Fed Chair
May 13, 2026
The Senate voted to confirm Kevin Warsh to serve as the chair of the Federal Reserve Board of Governors.
- Senate Banking Committee Chair Scott Statement
- Senate Banking Committee Ranking Member Warren Statement
- House Financial Services Committee Chair Hill Statement
Federal Reserve Board Issues Report on Economic Well-Being of US Households in 2025
May 13, 2026
The Federal Reserve Board issued its Economic Well-Being of U.S. Households in 2025 report, which examines the financial circumstances of U.S. adults and their families.
Working Paper: ‘Anchored to the Dot Plot: Central Bank Projections and Interest Rate Expectations’
May 13, 2026
The Federal Reserve Board published a working paper titled “Anchored to the Dot Plot: Central Bank Projections and Interest Rate Expectations.”
Working Paper: ‘A Tale of Demand and Supply for Central Bank Reserves’
May 13, 2026
The Federal Reserve Board published a working paper titled “A Tale of Demand and Supply for Central Bank Reserves.”
Working Paper: ‘Does Banking Consolidation Harm Households?’
May 13, 2026
The Federal Reserve Board published a working paper titled “Does Banking Consolidation Harm Households?”
Federal Reserve Bank of Boston
Remarks: ‘The US Economy: Resilience Amid Risks and Uncertainty’
May 13, 2026
Federal Reserve Bank of Boston President Susan M. Collings gave remarks titled “The U.S. Economy: Resilience Amid Risks and Uncertainty” at the Boston Economic Club.
Securities and Exchange Commission
Speech: ‘Remarks at the MFA Legal & Compliance 2026 Conference’
May 13, 2026
Securities and Exchange Commission Division of Enforcement Director David Woodcock gave a speech titled “Remarks at the MFA Legal & Compliance 2026 Conference” at the conference.
Commodity Futures Trading Commission
CFTC Staff Issues No-Action Letter on Data Reporting for Event Contracts
May 13, 2026
The Commodity Futures Trading Commission’s Division of Market Oversight and Division of Clearing and Risk announced they have taken a no-action position regarding swap data reporting and recordkeeping regulations.
National Credit Union Administration
NCUA Chairman Joins Leaders at Financial Literacy Roundtable
May 13, 2026
National Credit Union Administration (NCUA) Chairman Kyle Hauptman participated in a financial literacy roundtable hosted by the U.S. Department of the Treasury and Office of the Comptroller of the Currency.
International
Bank of England
Speech: ‘Old exposures, new actors: Implications for monetary policy of the UK’s external imbalances’
May 13, 2026
Monetary Policy Committee Member Catherine L. Mann gave a speech titled “Old exposures, new actors: Implications for monetary policy of the UK’s external imbalances.”
Financial Conduct Authority
FCA Reviews Whether Investment Firms Are Doing Enough to Support Bereaved Customers
May 13, 2026
The Financial Conduct Authority is reviewing how consumer investment firms support bereaved customers and whether they are getting it right.
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 – May 15, 2026); Kevin Warsh (confirmed May 13, 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 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
Practice Areas
For More Information
