Daily Financial Regulation Update -- Tuesday, May 5, 2026

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Federal Agencies

Federal Reserve Board

Senior Loan Officer Opinion Survey on Bank Lending Practices

May 4, 2026

The Federal Reserve Board released the results of the April 2026 Senior Loan Officer Opinion Survey on Bank Lending Practices.

• Survey

 

Working Paper: ‘Pretend or Amend? On Evergreening in CRE’

May 4, 2026

The Federal Reserve Board published a working paper titled “Pretend or Amend? On Evergreening in CRE.”

• Paper

 

Federal Reserve Bank of New York

New York Fed President Gives Speech on Economic Outlook and Monetary Policy

May 4, 2026

Federal Reserve Bank of New York President John C. Williams gave a speech titled “There Is No Try” at the Cynosure Group Spring Symposium in New York.

• Speech
• Press Release

 

Blog: ‘In What Ways Has US Trade with China Changed?’

May 4, 2026

The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “In What Ways Has U.S. Trade with China Changed?”

• Blog

 

Securities and Exchange Commission

SEC Staff Issues Statement on Pooled Employer Plans

May 4, 2026

The Securities and Exchange Commission’s Division of Investment Management issued a statement regarding pooled employer plans.

• Statement

 

Commodity Futures Trading Commission

CFTC Staff Issues Supplemental Letter Regarding No-Action Position on Reporting, Recordkeeping Requirements

May 4, 2026

The Commodity Futures Trading Commission’s Division of Market Oversight and Division of Clearing and Risk announced they have taken a no-action position regarding swap data reporting and recordkeeping regulations. 

• No-Action Letter
• Press Release

 

Consumer Financial Protection Bureau

CFPB Releases Final Rule on Small Business Lending Under Equal Credit Opportunity Act (Regulation B)

May 1, 2026

The Consumer Financial Protection Bureau is revising certain provisions of Regulation B, Subpart B, which implements changes to the Equal Credit Opportunity Act made by Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

• Final Rule
• House Financial Services Committee Ranking Member Waters Statement

 

Bank Policy Institute

Trade Associations Send Comment Letter to OCC on GENIUS Act Implementation Proposal

May 4, 2026

The Bank Policy Institute, Consumer Bankers Association and Financial Services Forum sent a comment letter to the Office of the Comptroller of the Currency regarding its proposed rule on the GENIUS Act implementation.

• Letter
• 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