PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, February 25, 2026
February 25, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Fed Releases Minutes of January Discount Rate Meetings
February 24, 2026
The Federal Reserve Board released the minutes from its meetings held Jan. 20 and 28 to review and determine the discount rates provided to depository institutions through the discount window.
Opening Remarks for ‘AI and Productivity across the Economy’ Panel
February 24, 2026
Federal Reserve Board Gov. Lisa D. Cook gave opening remarks for the “AI and Productivity across the Economy” panel at the 42nd Annual NABE Economic Policy Conference, “The Great Realignment: Navigating AI, Demographic, and Geoeconomic Shifts,” in Washington, D.C.
Speech: ‘Operationalizing AI at the Federal Reserve’
February 24, 2026
Federal Reserve Board Gov. Christopher J. Waller gave a speech titled “Operationalizing AI at the Federal Reserve” at the Federal Reserve Bank of Boston “2026 Technology-Enabled Disruption Conference: Shaping the Future of Finance and Payments” in Boston.
Federal Reserve Bank of New York
Report: ‘Sports Betting Across Borders: Spatial Spillovers, Credit Distress, and Fiscal Externalities’
February 24, 2026
The Federal Reserve Bank of New York published a staff report titled “Sports Betting Across Borders: Spatial Spillovers, Credit Distress, and Fiscal Externalities.”
Report: ‘Open-Ended Treasury Purchases: From Market Functioning to Financial Easing’
February 24, 2026
The Federal Reserve Bank of New York published a staff report titled “Open-Ended Treasury Purchases: From Market Functioning to Financial Easing.”
Blog: ‘Estimating the Term Structure of Corporate Bond Risk Premia’
February 24, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Estimating the Term Structure of Corporate Bond Risk Premia.”
Federal Reserve Bank of Boston
Welcoming Remarks at the ‘2026 Technology-Enabled Disruption Conference: Shaping the Future of Finance and Payments’
February 24, 2026
Federal Reserve Bank of Boston President & CEO Susan M. Collins delivered welcoming remarks at the “2026 Technology-Enabled Disruption Conference: Shaping the Future of Finance and Payments.”
Federal Deposit Insurance Corporation
FDIC-Insured Institutions Report 1.24% Return on Assets and $77.7 Billion Net Income in Q4 2025
February 24, 2026
The Federal Deposit Insurance Corporation released the results of its latest Quarterly Banking Profile, a comprehensive summary of financial results based on reports from 4,336 insured commercial banks and savings institutions.
Securities and Exchange Commission
Division of Enforcement Announces Updates to Enforcement Manual
February 24, 2026
The Securities and Exchange Commission (SEC) Division of Enforcement announced significant updates to its Enforcement Manual.
Small Business Capital Formation Advisory Committee Meeting
February 24, 2026
The SEC Small Business Capital Formation Advisory Committee held a meeting on Feb. 24. SEC Chair Paul Atkins and Commissioners Hester Peirce and Mark Uyeda gave remarks.
FINRA
FINRA Adopts Amendments to Capital Acquisition Broker Rules
February 24, 2026
FINRA adopted amendments to the Capital Acquisition Broker (CAB) rules that are designed to reduce the regulatory burden on CABs while maintaining their limited institutional business model and important investor protections.
Federal Housing Finance Agency
US House Prices Rise 1.8% Year Over Year; Up 0.8% Quarter Over Quarter
February 24, 2026
U.S. house prices rose 1.8% between Q4 2024 and Q4 2025, according to the U.S. Federal Housing House Price Index.
Bank Policy Institute
Blog: ‘Spoofing, Smishing and Deepfakes: To Stop Scams, Consumers Need Stronger Protections’
February 24, 2026
The Bank Policy Institute published a blog post titled “Spoofing, Smishing and Deepfakes: To Stop Scams, Consumers Need Stronger Protections.”
International
Bank of England
Policy Statement: ‘Extending RTGS and CHAPS settlement hours – early morning extension’
February 24, 2026
The Bank of England released a policy statement titled, “Extending RTGS and CHAPS settlement hours – early morning extension.”
Financial Conduct Authority
Blog: ‘A smarter approach to communicating our regulatory priorities’
February 24, 2026
The Financial Conduct Authority published a blog post titled “A smarter approach to communicating our regulatory priorities.”
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
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