PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, July 9, 2026
July 09, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Minutes of the Federal Open Market Committee — June 16-17
July 8, 2026
The Federal Reserve released the minutes of the Federal Open Market Committee meeting that was held on June 16-17.
Working Paper: ‘Multi-Plant Firms, Variable Capacity Utilization and the Aggregate Hours Elasticity’
July 8, 2026
The Federal Reserve published a working paper titled “Multi-Plant Firms, Variable Capacity Utilization and the Aggregate Hours Elasticity.”
Federal Reserve Bank of New York
Blog: ‘More Tariff Pass-Through Is in the Pipeline’
July 8, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “More Tariff Pass‑Through Is in the Pipeline.”
Federal Reserve Bank of Boston
Regional Brief: ‘The Large Role Small Businesses Play in Employment in New England’
July 8, 2026
The Federal Reserve Bank of Boston published a regional brief titled “The Large Role Small Businesses Play in Employment in New England.”
FINRA
Regulatory Notice: ‘Accounts at Other Broker-Dealers and Financial Institutions’
July 8, 2026
FINRA has amended Rule 3210 (Accounts at Other Broker-Dealers and Financial Institutions) to add an exception from the rule’s requirements for accounts pursuant to Section 530A of the Internal Revenue Code (Trump Accounts).
National Credit Union Administration
CDRLF Loan Program Offers Additional Opportunities
July 8, 2026
The National Credit Union Administration announced that $13 million is available for loans to low income-designated credit unions under the Community Development Revolving Loan Fund.
Bank Policy Institute
BPI Statement on Federal Reserve Proposal on Anti-Money Laundering and Countering the Financing of Terrorism Programs
July 8, 2026
The Bank Policy Institute issued a statement in response to the Federal Reserve Board’s proposed updates to its Anti-Money Laundering and Countering the Financing of Terrorism program requirements.
International
European Banking Authority
The EBA Issues Opinion on the Implementation of IFRS 18 in Supervisory Financial Reporting to Support Consistency With IFRS Requirements
July 8, 2026
The European Banking Authority has published an opinion providing guidance on how institutions can report profit or loss information during the interim period between the first application date of IFRS 18 and the first application date of the amending Implementing Technical Standards on supervisory financial reporting, which are currently under consultation.
Bank of England
Policy Statement: ‘The Bank of England’s Fees Regime for Financial Market Infrastructure Supervision for CCPs and CSDs 2026/27’
July 8, 2026
The Bank of England released a policy statement titled “The Bank of England’s fees regime for financial market infrastructure supervision for CCPs and CSDs 2026/27.”
Minutes of the UK Money Markets Code Sub-Committee — June
July 8, 2026
The Bank of England released the minutes of the U.K. Money Markets Code Sub-Committee meeting held June 9.
Financial Conduct Authority
Speech: ‘Showing Our Workings: Solving for Growth, Risk and Trust’
July 8, 2026
Financial Conduct Authority Deputy Chief Executive Sarah Pritchard gave a speech titled “Showing our workings: solving for growth, risk and trust.”
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)
- 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 (effective December 22, 2025)
Consumer Financial Protection Bureau – Russel Vought (Acting Director effective February 10, 2025); Nominee Brian Johnson (nominated June 10, 2026)
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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