Daily Financial Regulation Update -- Wednesday, January 7, 2026

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Federal Agencies

U.S. Department of the Treasury

Treasury Announces ‘Working Families Tax Cuts’

January 6, 2026

The U.S. Department of the Treasury announced the launch of its new platform, “Working Families Tax Cuts: Ushering in a New Golden Age.”

• Press Release
• Platform

 

Federal Reserve Board

Fed Releases Minutes of Discount Rate Meeting

January 6, 2026

The Federal Reserve Board released the minutes from its meeting on Dec. 10, 2025, to review and determine the discount rates provided to depository institutions through the discount window. 

• Minutes
• Press Release

 

Working Paper: ‘A Framework for Understanding the Vulnerabilities of New Money-Like Products’

January 6, 2026

The Federal Reserve Board published a working paper titled, “A Framework for Understanding the Vulnerabilities of New Money-Like Products.”

• Paper

 

Federal Reserve Bank of New York

New York Fed to Launch Regular Publication of New Labor Market Tightness Measure

January 6, 2026

On Jan. 8, the Federal Reserve Bank of New York will begin monthly publication of the Heise, Pearce, Weber (HPW) Labor Market Tightness Index, a new research product for measuring labor market tightness.

• Press Release

 

Conference of State Bank Supervisors

Community Bankers End Year on Sunny Note

January 6, 2026

Community bankers ended 2025 with a high sentiment on future conditions, according to the Q4 2025 results of the Community Bank Sentiment Index (CBSI) released by the Conference of State Bank Supervisors.

• Community Bank Sentiment Index
• Press Release

 

International

Bank of England

Bank of England Releases Minutes of the UK Money Markets Code Sub-Committee Meeting

January 6, 2026

The Bank of England released the minutes of the U.K. Money Markets Code Sub-Committee held Dec. 3, 2025.

• Minutes

 

UK International Reserves — December 2025

January 6, 2026

The Bank of England released the U.K. International Reserves data for December 2025.

• Data

 

Bank of England Publishes Consolidated Balance Sheet

January 6, 2026

The Bank of England published the consolidated balance sheet for the quarter ending Sept. 30, 2024.

• Data

 

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