Insights

PH FedACTion: Financial Regulatory Updates

Daily Financial Regulation Update -- Wednesday, June 17, 2026

June 17, 2026

Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe

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Congress

US Senate

Committee on Banking, Housing and Urban Affairs

Senators and Representatives Release Updated Bill Text on Senate Consideration of the 21st Century ROAD to Housing Act

June 16, 2026

As the U.S. Senate considers comprehensive housing affordability legislation, Sen. Tim Scott (R-S.C.), chairman of the Senate Banking Housing and Urban Affairs Committee; Sen. Elizabeth Warren (D-Mass.), ranking member of the Committee; Rep. French Hill (R-Ark.), chairman of the House Financial Services Committee; and Rep. Maxine Waters (D-Calif.), ranking member of the House Financial Services Committee, released updated bill text and a section-by-section for the 21st Century ROAD to Housing Act.

Federal Agencies

Federal Reserve Bank of New York

Business Leaders Survey — June 2026

June 16, 2026

The Federal Reserve Bank of New York released the results of the Business Leaders Survey for June 2026.

Commodity Futures Trading Commission

CFTC Issues a Request for Information to Facilitate Innovation and Competition for Fintech Firms

June 16, 2026

The Commodity Futures Trading Commission issued a Request for Information to assist the commission in identifying regulations, guidance documents, orders, no-action letters and other items that unduly impede fintech firms from entering into partnerships with federally regulated institutions as well as CFTC regulatory items that could be amended to streamline application processes for eligible fintech firms.

International

European Commission

Navigating Crises and Delivering Results With the EU Budget in 2025

June 16, 2026

The College of Commissioners adopted the Annual Management and Performance Report for 2025.

European Banking Authority

The EBA Proposes Simplifications to the EU Bank Capital Framework in a Holistic Manner to Strengthen Its Efficiency

June 16, 2026

The European Banking Authority published a comprehensive review of the EU bank microprudential, macroprudential and resolution capital framework, including proposals to simplify it. Such proposals intend to reduce complexity while preserving banks’ resilience and resolvability as well as authorities’ tools and to ensure the framework remains focused on emerging and materially evolving risks.

The EBA Publishes Its 2025 Annual Report Outlining Key Achievements

June 16, 2026

The European Banking Authority published its 2025 Annual Report outlining its main achievements and activities in delivering on its mandates under its Work Program.

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 – SCOTUS hearing on purported termination to be held in January 21, 2026)
Stephen Miran (sworn in September 16, 2025)
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 (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