Daily Financial Regulation Update -- Wednesday, April 8, 2026

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Federal Agencies

Federal Deposit Insurance Corporation

FDIC Approves Proposal to Implement GENIUS Act Requirements and Standards

April 7, 2026

The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a notice of proposed rulemaking that would implement certain requirements and standards under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act).

• Proposed Rule
• Press Release
• Board Memorandum
• Chair Travis Hill Statement
• Financial Institution Letter

 

Federal Reserve Board

Speech: ‘Economic Outlook and the Labor Market’

April 7, 2026

Federal Reserve Board Vice Chair Philip N. Jefferson gave a speech titled “Economic Outlook and the Labor Market” at the College of Business Administration of the University of Detroit Mercy in Detroit, MI.

• Speech

 

Data: G.19 Consumer Credit — February 2026

April 7, 2026

The Federal Reserve Board released the G.19 consumer credit data for February 2026.

• Data

 

Federal Reserve Bank of New York

Short-Term Inflation Expectations Increase as Gas Price Growth Expectations Spike

April 7, 2026

The Federal Reserve Bank of New York’s Center for Microeconomic Data released the March 2026 Survey of Consumer Expectations, which shows that households’ inflation expectations increased at the short- and medium-term horizons and remained unchanged at the longer-term horizon.

• Survey
• Press Release

 

Conference of State Bank Supervisors

CSBS: Community Bankers Remain Positive About Future Despite Concerns

April 7, 2026

While community bankers remain optimistic about the future, their outlook on the impact of monetary policies and regulation is waning, according to the Conference of State Bank Supervisors’ (CSBS) most recent quarterly poll. 

• Community Banker Sentiment Index
• Press Release

 

Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency

Agencies Issue Final Rule to Prohibit Use of Reputation Risk by Regulators

April 7, 2026

The Office of the Comptroller of the Currency (OCC) and the FDIC jointly issued a final rule that codifies the elimination of reputation risk from their supervisory programs.

• Final Rule
• Press Release
• FDIC Board Memorandum
• FDIC Chair Hill Statement
• FDIC Financial Institution Letter
• OCC Bulletin
• Comptroller Statement

 

Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
National Credit Union Administration

Agencies Request Comment on AML/CFT Proposed Rule

April 7, 2026

The FDIC, OCC and the National Credit Union Administration (NCUA) proposed a rule to amend the respective requirements for their supervised institutions to establish and maintain effective risk-based anti-money laundering and countering the financing of terrorism (AML/CFT) programs designed to identify, assess and mitigate risks of illicit finance.

• Proposed Rule
• Press Release
• OCC Bulletin
• FDIC Financial Institution Letter
• FDIC Board Memorandum
• FDIC Chair Hill Statement

 

Securities and Exchange Commission

SEC Announces Enforcement Results for Fiscal Year 2025

April 7, 2026

The Securities and Exchange Commission (SEC) announced enforcement results for the fiscal year that ended on Sept. 30, 2025.

• Enforcement Statistics
• Press Release

 

Remarks: ‘A Return to First Principles in Public Markets’

April 7, 2026

SEC Chair Paul S. Atkins gave remarks titled “A Return to First Principles in Public Markets” at the Texas Stock Exchage “Welcome to the Boom Belt” event.

• Remarks

 

Financial Crimes Enforcement Network

FinCEN Proposes Reform to Programs Designed to Fight Illicit Finance

April 7, 2026

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a proposed rule intended to fundamentally reform financial institutions’ AML/CFT programs under the Bank Secrecy Act.

• Press Release
• Proposed Rule
• Fact Sheet
• Key Changes

 

National Credit Union Administration

NCUA Announces 9th Round of Deregulation Proposals

April 7, 2026

The NCUA announced the ninth round of proposed regulatory changes associated with its Deregulation Project.

• 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

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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