PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday, June 9, 2026
June 09, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Office of the Comptroller of the Currency
Federal Reserve System
Federal Deposit Insurance Corporation
National Credit Union Administration
Consumer Financial Protection Bureau
Federal Housing Agency
Commodities Futures Trading Commission
Securities and Exchange Commission
Agencies Establish Joint Data Standards as Required Under the Financial Data Transparency Act of 2022
June 8, 2026
The federal financial regulatory agencies established joint data standards under the Financial Data Transparency Act of 2022.
Federal Reserve Board
Speech: ‘Deregulating in a Financial Boom: What Could Go Wrong?’
June 6, 2026
Federal Reserve Board Gov. Michael S. Barr gave a speech titled “Deregulating in a Financial Boom: What Could Go Wrong?” at American University.
Federal Reserve Bank of New York
Household Financial Outlook Deteriorates; Short-Term Inflation Expectations Decline
June 8, 2026
The Federal Reserve Bank of New York’s Center for Microeconomic Data released the May 2026 Survey of Consumer Expectations, which shows that households’ inflation expectations decreased at the short-term horizon and remained unchanged at the medium- and longer-term horizons, while home price growth expectations increased.
Federal Deposit Insurance Corporation
FDIC Releases Q1 2026 State Profiles
June 8, 2026
The Federal Deposit Insurance Corporation released the Q1 2026 State Profiles.
National Credit Union Administration
NCUA Clarifies Federal Credit Unions’ Power
June 8, 2026
The National Credit Union Administration published an Interim Final Rule to clarify federal credit unions’ power to charge non-interest charges and fees, including interchange fees, under the Federal Credit Union Act.
International
European Banking Authority
The EBA Launches Discussion Paper on Pillar 3 Data Hub for Small Banks
June 8, 2026
The European Banking Authority published a discussion paper that proposes a simplified process for small and non-complex institutions when implementing the Pillar 3 Data Hub.
Financial Conduct Authority
FCA Update on Reforms to the UK Money Market Fund Regulation
June 8, 2026
The Financial Conduct Authority set out next steps on issuing new rules and guidance on money market funds following government plans to replace the current rules.
Consumers Warned About Misleading Car Finance ‘Money Tips’ Claims Ads
June 8, 2026
The Financial Conduct Authority is warning consumers to be wary of misleading car finance ‘money tips’ adverts issued by claims management companies and law firms on social media.
Blog: ‘AI in financial services: shaping our approach through industry engagement’
June 8, 2026
The Financial Conduct Authority published a blog post titled “AI in financial services: shaping our approach through industry engagement.”
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
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