Daily Financial Regulation Update -- Tuesday, April 28, 2026

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Federal Agencies

U.S. Department of the Treasury

Treasury Announces Moves to Prevent Abuse of Community Development Financial Institutions Fund Programs

April 27, 2026

The U.S. Department of the Treasury announced that is has initiated a review of certified community development financial institutions (CDFIs) to identify potential violations of applicable law or CDFI requirements and to help ensure that CDFIs that receive federal assistance act as proper stewards of taxpayer funds.

• Press Release

 

Conference of State Bank Supervisors

CSBS Issues Statement on OCC’s Proposal to Preempt Illinois Interchange Fee Prohibition Act

April 27, 2026

The Conference of State Bank Supervisors (CSBS) issued a statement on the Office of the Comptroller of the Currency’s proposed rule to preempt the Illinois Interchange Fee Prohibition Act.

• Statement

 

Bank Policy Institute

BPInsights: April 25, 2026

April 25, 2026

The Bank Policy Institute published the BPInsights newsletter.

• Newsletter

 

International

Financial Conduct Authority

FCA Issues Statement on Motor Finance Compensation Scheme

April 27, 2026

The Financial Conduct Authority (FCA) published a statement regarding a challenge to the motor finance compensation scheme.

• Statement

 

FCA Consults on Changes to IPO Research Rules

April 27, 2026

The FCA is seeking views on proposals to change rules that govern the publication of research during the initial public offering process.

• CP26/14: Changes to information flows for UK equity IPOs
• Press Release

 

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