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 Consumer Financial Protection Bureau plans to release neutral credit card pricing data in the coming months to help consumers get the best deal, according to Director Rohit Chopra. Deceptive reward programs, late fees and data portability remain concerns, too, he says.
March 26 -
Acting Comptroller Michael Hsu emphasized Monday the importance for banks to prioritize fairness in innovation, urging vigilance in navigating compliance risks associated with emerging technologies like AI.
March 25 -
The FDIC Office of Inspector General attributed the downfall of Citizens Bank in November 2023 to lax lending practices and risk mismanagement by the Lange family, causing a $14.8 million loss to the regulator's Deposit Insurance Fund. The OIG saw no grounds for a more extensive review.
March 22 -
The FDIC's newly unveiled policy statement on bank mergers could add strain to an already bleak outlook for mergers in the banking industry, particularly for larger banks.
March 22 -
The FDIC proposed a new policy to intensify scrutiny on U.S. bank mergers Thursday that emphasizes the resulting institutions' financial stability and ability to serve its community's needs.
March 21 -
As nonbank entities expand their market share in many traditional banking services and are increasingly intertwined in the banking system, regulators' approach to leveling the playing field has been incremental and situational.
March 15 -
A bipartisan group of senators called on the Federal Deposit Insurance Corp. to exercise transparency and expedience in evaluating industrial loan company applications, which grant a type of charter industry experts say is unlikely to be issued in this administration.
March 13 -
Acting Comptroller of the Currency Michael Hsu offered more details about forthcoming interagency rules to establish operational risk standards for large banks, including a focus on "critical operations" and third-party service providers.
March 12 -
Federal Deposit Insurance Corp. Vice Chair Travis Hill Monday criticized his agency's lack of clarity on digital assets, warning that the current approach risks hindering U.S. influence in the global rollout of blockchain at banks.
March 11 -
Net income at the nation's more than 4,000 banks dipped markedly in the final quarter of 2023, though for the full year it exceeded pre-pandemic averages. Deterioration in commercial real estate and credit card lending is a concern, FDIC Chairman Martin Gruenberg says.
March 7