Daily Financial Regulation Update -- Thursday, March 26, 2026

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Congress

U.S. House of Representatives

Committee on Financial Services

Hearing: ‘Tokenization and the Future of Securities: Modernizing Our Capital Markets’

March 25, 2026

The U.S. House Committee on Financial Services held a hearing titled “Tokenization and the Future of Securities: Modernizing Our Capital Markets.”

• Hearing
• Committee Memorandum
• Chair Hill Statement
• Ranking Member Waters Statement

 

Committee Introduces Proposals to Reform Deposit Insurance

March 25, 2026

The House Financial Services Committee introduced various proposals to reform the U.S. deposit insurance framework.

• Press Release

 

Federal Agencies

Federal Reserve Board

Fed Releases Annual Audited Financial Statements

March 25, 2026

The Federal Reserve Board released annual audited financial statements for the Federal Reserve System for 2025. 

• Audited Financial Statements
• Press Release

 

Federal Reserve Bank of New York

Blog: ‘Sports Betting Is Everywhere, Especially on Credit Reports’

March 25, 2026

The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Sports Betting Is Everywhere, Especially on Credit Reports.”

• Blog

 

Federal Reserve Bank of Boston

Paper: ‘How Interest Rate Changes Affect Credit Card Spending’

March 25, 2026

The Federal Reserve Bank of Boston published a Current Policy Perspectives paper titled “How Interest Rate Changes Affect Credit Card Spending.”

• Paper

 

Financial Stability Oversight Council

Council Issues Proposed Guidance on Nonbank Financial Company Designations

March 25, 2026

The Financial Stability Oversight Council voted unanimously to issue for public comment proposed interpretative guidance on nonbank financial company designations. 

• Press Release
• Meeting Readout
• House Financial Services Committee Chair Hill Statement

 

International

Financial Conduct Authority

FCA Plans to Help Consumers Get More Financial Advice for Important Decisions

March 25, 2026

The Financial Conduct Authority issued a consultation paper on how to make it easier for firms to give consumers more simplified forms of individualized financial advice.

• Consultation Paper
• 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

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