Daily Financial Regulation Update -- Tuesday, March 24, 2026

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Federal Agencies

U.S. Department of the Treasury

Treasury Launches AI Innovation Series

March 23, 2026

The Office of the Financial Stability Oversight Council and the Treasury Department’s Artificial Intelligence Transformation Office launched the AI Innovation Series this week, a public-private initiative to support the continued strength and resilience of the U.S. financial system in an era of accelerating technological change.

• Press Release

 

Federal Reserve Board

Working Paper: ‘AI and Coder Employment: Compiling the Evidence’

March 23, 2026

The Federal Reserve Board published a working paper titled “AI and Coder Employment: Compiling the Evidence.”

• Paper

 

Working Paper: ‘Queuing, Service Time, and Price Dynamics in Residential Mortgage Lending’

March 23, 2026

The Federal Reserve Board published a working paper titled “Queuing, Service Time, and Price Dynamics in Residential Mortgage Lending.”

• Paper

 

Working Paper: ‘Model Uncertainty and the Pricing of Hurricane Risk in Florida’

March 23, 2026

The Federal Reserve Board published a working paper titled “Model Uncertainty and the Pricing of Hurricane Risk in Florida.”

• Paper

 

Federal Reserve Bank of New York

Blog: ‘China’s Electric Trade’

March 23, 2026

The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “China’s Electric Trade.”

• Blog

 

International

European Banking Authority

EBA Report: European Banking Sector Remains Robust Amid Geopolitical Uncertainty

March 23, 2026

The European Banking Authority (EBA) published its Q4 2025 Risk Dashboard, confirming that the EU/EEA banking sector remains robust with strong capitalization, ample liquidity and solid asset quality, even as global economic uncertainty rises following renewed conflict in the Middle East.

• Dashboard
• Press Release

 

Bank of England

Discussion Paper: ‘Rethinking global imbalances: drivers, risks, and policy priorities’

March 23, 2026

The Bank of England published a discussion paper titled “Rethinking global imbalances: drivers, risks, and policy priorities.”

• Discussion Paper

 

Financial Conduct Authority

Guidance: ‘Targeted support: firm considerations when designing consumer segments’

March 23, 2026

The Financial Conduct Authority released guidance titled “Targeted support: firm considerations when designing consumer segments.”

• Guidance

 

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