U.S. Financial Regulatory Week Ahead
Prudential Regulators To Testify in the House, Treasury Secretary Bessent Testifies Before Congress, and the SEC’s Investor Advisory Committee Discusses Semi-Annual Reporting and Proxy Voting
June 1 - 5, 2026
After the quiet of last week (nothing happened with the Memorial Day break – hence, we did not publish last week), things spring back to life this week in Washington.
The big event this week will be the prudential regulators - Federal Reserve Board Vice Chair for Supervision Michelle Bowman, Comptroller Jonathan Gould, FDIC Chairman Travis Hill, and Acting National Credit Union Administration Chairman Kyle Hauptman – testifying before the House Financial Services Committee on Thursday. We believe a big focus of questioning will be centered on issues dogging the ongoing housing bill and crypto bill. But we also have reason to believe that committee members will be focused on the Fed’s work to develop new tailoring rules for banks.
This comes after an interesting Reuters report last week detailing how banks are quietly but insistently pushing the Fed behind the scenes to lock in its new supervisory regime so it cannot be easily reversed by a potential future Democratic administration.
Also on Capitol Hill this week, Treasury Secretary Scott Bessent will be testifying in both chambers on the Treasury Department’s proposed 2027 budget. While dollars and cents will be the focus, it is also highly likely that questions will be fired off at Bessent on a host of other issues, including in the financial regulatory arena and the newly proposed $250 bill featuring President Trump’s face.
Looking back at last week, the SEC released their proposed rescission of climate-related disclosure rules. SEC Chair Paul Atkins said in a written statement: “SEC disclosure obligations should comply with the Commission’s statutory authority, be guided by materiality as the North Star, avoid the practical effect of dictating corporate behavior, and be imposed only when the expected benefits justify the likely costs and burdens.” The release has a 60-day comment period.
Finally, we would note that the Consumer Financial Protection Bureau (CFPB) sent a notice to all staff across the country that they are now expected to work out of a new office in Washington, D.C. – a move widely seen as a stealthy reduction-in-force plan.
The CFPB staffing issue has been a long-running litigation battlefield, with the Trump Administration initially reducing staff by roughly 25% (from 1,750 to 1,100). But in April 2025, the Administration attempted to cut 1,500 more staff – approximately 90% of the remaining staff – bringing it down to roughly 200. But a federal judge blocked that move, and the case has been in litigation ever since. Since then, the Administration has offered a new plan that would cut staff to 556, which the federal judge is now considering.
Below is the full report on financial regulatory-related events this week. Please let us know if you have any questions.
U.S. Congressional Hearings
U.S. Senate
· Wednesday, June 4, 10:00 a.m. – The Senate Finance Committee will hold a hearing on the Treasury Department’s 2027 Budget. Treasury Secretary Scott Bessent will testify.
House of Representatives
· Thursday, June 4, 10:00 a.m. – The House Ways and Means Committee will hold a hearing with Treasury Secretary Scott Bessent testifying.
· Thursday, June 4, 10:00 a.m. – The House Financial Services Committee will hold a hearing entitled “Oversight of Prudential Regulators.” Federal Reserve Board Vice Chair for Supervision Michelle Bowman, Comptroller Jonathan Gould, FDIC Chairman Travis Hill, and Acting National Credit Union Administration Chairman Kyle Hauptman will testify.
· Thursday, June 4, 10:00 a.m. – The House Agriculture Committee will hold a meeting with Agriculture Department Secretary Brooke Rollin testifying.
Federal Department & Regulatory Agency Meetings & Events
The White House
· There are no significant events scheduled at this time.
Federal Reserve Board and Federal Reserve Banks
Speeches –
· Tuesday, June 2, 8:30 a.m. – Cleveland Federal Reserve Bank President Beth Hammack gives remarks and participates in a conversation on monetary policy co-hosted by the Cleveland Fed, the City Club of Cleveland, the Greater Cleveland Partnership, and the 50 Club of Cleveland.
· Wednesday, June 3, 9:00 a.m. – Federal Reserve Board Governor Michael S. Barr participates in a conversation event at the Community Development Bankers Association (CDBA) Peer Forum 2026, Washington, D.C.
· Saturday, June 6, 12:00 p.m. – Federal Reserve Governor Michael S. Barr speaks on supervision and regulation at the 5th DC Finance Conference, Washington, D.C.
Conferences –
· Nothing is scheduled at this time.
U.S. Treasury Department
· Thursday, June 4, 10:00 a.m. – Treasury Secretary Scott Bessent will testify before the House Ways and Means Committee.
Department of Commerce
· There are no significant events scheduled at this time.
Department of Housing and Urban Development
· There are no significant events scheduled at this time.
Securities and Exchange Commission
· Thursday, June 4, 10:00 a.m. – The SEC’s The SEC's Investor Advisory Committee is holding a meeting to discuss avoiding retail confusion regarding private market assets, passive index funds, shareholder voting, fund proxy voting, and recommendations regarding quarterly vs. semi-annual reporting.
· Thursday, June 4, 2:00 p.m. – The SEC holds a Closed Meeting.
Commodities Futures Trading Commission
· There are no significant events scheduled at this time.
Federal Deposit Insurance Corporation
· There are no significant events scheduled at this time.
Office of the Comptroller of the Currency
· Nothing significant to report.
The Consumer Financial Protection Bureau
· There are no significant events scheduled at this time.
FINRA
· There are no significant events scheduled at this time.
National Credit Union Administration
· There are no significant events scheduled at this time.
Federal Trade Commission & Department of Justice Antitrust Division
· Nothing significant to report.
Farm Credit Administration
· Nothing significant to report.
Farm Credit System Insurance Corporation
· Nothing significant to report.
International Monetary Fund & World Bank
· Nothing significant to report.
North American Securities Administrators Association
· There are no significant events scheduled at this time.
Small Business Administration
· There are no significant events scheduled at this time.
Trade Associations & Think Tank Events
Trade Associations
· Wednesday & Thursday, June 3 – 4 – SIFMA will be holding its annual Anti-Money Laundering & Financial Crimes Conference in New York. US Attorney for the Southern District (and former SEC Chair) Jay Clayton will be speaking.
· Wednesday, June 3, 8:30 a.m. – 6:00 p.m. – The Institute for International Bankers holds its 2026 US Regulatory & Compliance Orientation Conference in New York.
Think Tanks and Other Events
· Tuesday, June 2, 9:30 a.m. – 12:15 p.m. – The Brookings Institution will hold a conference entitled “The Powell Years at the Fed: A Retrospective.” Former Vice Chairs for Supervision Randy Quarles and Dan Tarullo will speak as will former Fed Chairs Janet Yellen and Ben Bernanke, as well as former Vice Chairs for Monetary Policy Alan Blinder and Donald Kohn.
· Saturday, June 6 – The 5th Annual DC Finance Conference will take place at American University in Washington, D.C. Federal Reserve Board Governor Michael Barr will speak.
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