Daily Financial Regulation Update -- Wednesday, July 22, 2026

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Congress

US House of Representatives

Committee on Financial Services

Hearing: ‘Oversight of the Federal Home Loan Bank System’

July 21, 2026

The House Committee on Financial Services Subcommittee on Housing and Insurance held a hearing titled “Oversight of the Federal Home Loan Bank System.”

• Hearing
• Committee Memorandum
• Subcommittee Chair Flood Statement

 

Hearing: ‘Oversight of the Financial Crimes Enforcement Network’

July 21, 2026

The House Committee on Financial Services Subcommittee on National Security, Illicit Finance and International Financial Institutions held a hearing titled “Oversight of the Financial Crimes Enforcement Network.” The committee heard testimony from Andrea Gacki, director of the Financial Crimes Enforcement Network (FinCEN).

• Hearing
• Committee Memorandum
• Subcommittee Chair Davidson Statement
• FinCEN Director Gacki Testimony

 

Federal Agencies

US Department of the Treasury

Treasury Implements New Safeguard to Stop Payments to Deceased Individuals

July 21, 2026

The Department of the Treasury and the Bureau of the Fiscal Service announced the successful implementation of a new government-wide payment verification process that helps stop federal payments from being sent to deceased individuals.

• Press Release

 

Federal Deposit Insurance Corporation

Release: ‘National Rates and Rate Caps — July 2026’

July 21, 2026

The Federal Deposit Insurance Corporation released the national rates and rate caps for July.

• Rates and Rate Caps

 

Securities and Exchange Commission

Small Business Capital Formation Advisory Committee Meeting

July 21, 2026

The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee held a meeting to discuss matters relating to rules and regulations under the federal securities laws that affect small and emerging businesses and their investors.

• Agenda
• Chair Atkins Remarks
• Commissioner Peirce Remarks
• Commissioner Uyeda Remarks
• BPI Statement for the Record

 

International

Bank of England

Speech: ‘It’s All About the Role of Money’

July 21, 2026

Bank of England Executive Director Nathanael Benjamin gave a speech titled “It’s all about the role of money” at the OMFIF Economic and Monetary Policy Institute.

• Speech

 

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