U.S. Financial Regulatory Week Ahead
Fed Chair-Nominee Warsh Gets His Confirmation Hearing, The Prudential Regulators Present New Risk Guidelines, and SEC Chair Atkins Launches a New Podcast
April 20 - 24, 2026
The big event among regulators and Congress this week is Tuesday’s Kevin Warsh’s confirmation hearing to be the next Federal Reserve Board Chairman. Counting votes, it is clear that Warsh will almost certainly be approved by the Banking Committee and, eventually, by the full Senate. But that will not happen until the U.S. Justice Department drops its ongoing investigation of current Fed Chair Jay Powell
The investigation – which has been squashed twice by federal courts – has not gone away, and it appears the Justice Department intends to keep appealing those decisions in a hopeless effort to prove Powell lied under oath before the Senate Banking Committee on June 25, 2025, regarding renovations to the Federal Reserve headquarters. Every member of the committee has stated Powell did not perjure himself. And now we are in a situation where not only is Senate Banking Committee Chair Tim Scott (R-SC), but also Senate Majority Leader John Thune (R-SD) and House Financial Services Committee Chair Representative French Hill (R-Ark) are publicly urging the investigation be dropped.
Until the investigation goes away, Senator Thom Tillis (R-NC) has announced he will block any confirmation votes for Warsh. And we believe at least half a dozen other senators are quietly supporting Tillis on this position.
Elsewhere on Capitol Hill this week, the House Financial Services Committee will be marking up four bills while the Senate Appropriations Committee will be holding a hearing with Treasury Secretary Scott Bessent on the Treasury Department’s 2027 budget request.
Looking at key events from last week, we would note that the prudential regulators published revised model risk management guidance. The revised guidance aims to clarify that model risk management should be tailored to a banking organization's size, complexity, and model risk profile. The revised guidance also discusses considerations specific to vendor and other third-party products, including their validation.
Over at the Commodities Futures Trading Commission (CFTC), Chairman Mike Selig vowed to investigate the spike in insider trading in prediction markets. He is also being pushed to investigate suspected insider trading in the oil and gas markets.
And at the SEC, Chair Paul Atkins has launched a new podcast called “Material Matters with SEC Chairman Paul Atkins.” The podcast, according to a SEC press release, aims to “…provide stakeholders and the investing public with exclusive interviews and insights around the agency’s policy and rulemaking agenda.” The first guests are SEC Commissioners Hester Pierce and Mark Uyeda. Personally, we found it quite interesting and innovative to hear the regulators talking amongst themselves, unscripted and insightful
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
· Tuesday, April 21, 10:00 a.m. – The Senate Banking Committee will hold a confirmation hearing for Kevin Warsh to serve as Chairman of the Board of Governors of the Federal Reserve System.
· Wednesday, April 22, 10:00 a.m. – The Senate Appropriations Financial Services and General Government Subcommittee holds a hearing on "A Review of the President's FY2027 Budget Request for the Department of the Treasury." Treasury Secretary Scott Bessent will testify.
· Thursday, April 23, 10:00 a.m. – The Senate Finance Committee will hold an oversight hearing on the President’s 2026 Trade Policy Agenda. U.S. Trade Representative Jamieson Greer will testify.
House of Representatives
· Tuesday, April 21, 10:00 a.m. – The House Financial Services Committee holds a markup hearing on four pieces of legislation (you can read the committee memorandum explaining what is being done HERE):
o H.R. 425, the Repealing Big Brother Overreach Act
o H.R. 941, the Small Lenders Exempt from New Data and Excessive Reporting (LENDER) Act
o H.R. 8286, the Protecting Americans’ Retirement Savings from Politics Act
o H.R. 8290, the Exchange Rate Accountability Act of 2026
· Wednesday, April 22, 10:00 a.m. – The House Financial Services Committee’s Subcommittee on Housing and Insurance will hold a hearing entitled “Diversifying Risk: The Benefits of Reinsurance and Credit Risk Transfers.”
· Wednesday, April 22, 2:00 p.m. – The House Financial Services Committee’s Subcommittee on National Security, Illicit Finance, and International Financial Institutions will hold a hearing entitled “Evaluating the Effectiveness of U.S. Sanctions Programs.”
Federal Department & Regulatory Agency Meetings & Events
The White House
· Nothing significant to report.
Federal Reserve Board and Federal Reserve Banks
· Tuesday, April 21, 2:30 p.m. – Federal Reserve Board Governor Christopher J. Waller will give a speech on “Modernizing Reserve Bank Operations” at the Brookings Institution Event, Washington, D.C.
U.S. Treasury Department
· Wednesday, April 22, 10:00 a.m. – Treasury Secretary Scott Bessent will testify before the Senate Appropriations Financial Services and General Government Subcommittee at a hearing entitled "A Review of the President's FY2027 Budget Request for the Department of the Treasury."
Department of Commerce
· There are no significant events scheduled at this time.
Department of Housing and Urban Development
· Tuesday, April 21, 6:30 p.m. – HUD Secretary Scott Turner will participate in an event at the Heritage Foundation entitled “Belief in Action: Dr. Kevin Roberts & Secretary Scott Turner on Faith, Family, and Work.”
Securities and Exchange Commission
· Tuesday, April 21, 8:00 a.m. – SEC Chair Paul Atkins will give a speech at the Economic Club of Washington, D.C.
· Thursday, April 23, 2:00 a.m. – The SEC will hold 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
· Tuesday, April 21, 2:30 p.m. – SIFMA holds its Women’s Leadership Forum in Washington, D.C.
Tuesday, April 21 – 22 – The American Bankers Association holds its MDI Partnership Summit along with the National Bankers Association (NBA) in Washington, D.C.
Think Tanks and Other Events
· Tuesday, April 21, 12:00 p.m. – The he Urban Institute holds a virtual discussion, beginning at 12 p.m., on "Buy Now, Pay Later: Recent Developments and Implications for Mortgage Lending."
· Tuesday, April 21, 2:30 p.m. – Federal Reserve Board Governor Christopher J. Waller will give a speech on “Modernizing Reserve Bank Operations” at the Brookings Institution Event, Washington, D.C.
· Tuesday, April 21, 6:30 p.m. – HUD Secretary Scott Turner will participate in an event at the Heritage Foundation entitled “Belief in Action: Dr. Kevin Roberts & Secretary Scott Turner on Faith, Family, and Work.”
· Wednesday, April 22, 9:00 a.m. – The Peterson Institute for International Economics holds a virtual event with European Central Bank Board Member Piero Cipollone entitled “Implementing the Digital Euro Project.”
· Thursday, April 23, 12:00 p.m. The American Enterprise Institute will host an event entitled “The Future of Student Loans: A Conversation with Under Secretary of Education Nicholas Kent.”
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