Ebrima Santos Sanneh covers the Treasury, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency for American Banker. He is a native of Providence, R.I. and a 2020 graduate of UCLA. Before joining American Banker he worked as a staffer for Sen. Jack Reed, D-R.I.
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The Financial Technology Protection Act would create a task force to stop terrorists and criminals from using digital assets, as lawmakers push for stronger oversight for emerging technologies.
July 25 -
The Federal Deposit Insurance Corp's decision to scrap Biden-era rules restricting industrial banks raises hopes for firms seeking to establish ILCs, but that doesn't mean the entry of the largest retailers and tech firms — whose entry to the industry banks most fear — is imminent.
July 22 -
Administration of the Community Development Financial Institution Fund at the Treasury Department will be led by the CDFI Fund's legal counsel following the resignation of the fund's director.
July 21 -
The Treasury's financial crime agency delayed enforcement of a variety of Bank Secrecy Act requirements for investment advisors in order to gain time to revise and tailor regulations.
July 21 -
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency proposed a rule that would revert the anti-discrimination framework to its 1995 standards.
July 16 -
The agency unveiled several deregulatory measures at a Tuesday board meeting, including a measure to tie regulatory thresholds to inflation, one creating a supervisory appeals office that reports to the board and withdrawal of a Biden-era rule on industrial loan companies.
July 15 -
Outgoing Acting Comptroller of the Currency Rodney Hood said in an interview with American Banker that advances can be made in economic inclusion through race-neutral policies, and he intends to keep up that fight as he leaves the Trump administration.
July 14 -
Major nonbank financial trade groups asked Treasury Secretary Bessent to scrap 2023 guidance expanding nonbank designations, citing cost and competitiveness concerns.
July 14 -
Despite bipartisan support and backing from bank trade groups, the Treasury scrapped a corporate ownership reporting rule meant to expose shell companies and aid financial compliance. But the problems that spurred the law's passage still remain.
July 10 -
The group expressed concern with the White House proposal to reduce the program's funding, and urged Appropriators to fund the bipartisan-backed Community Development Financial Institutions Fund.
July 9