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 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 -
The Securities and Exchange Commission finalized a pared-down version of rules governing climate-risk disclosure by public companies first proposed in March 2022. Experts say even the weakened rule will likely face challenges in Congress and the courtroom.
March 6 -
Top banking regulators reaffirmed their commitment to bolstering the Community Reinvestment Act despite a court challenge, emphasizing their personal dedication to seeing the rule implemented.
March 5 -
Acting Comptroller Michael Hsu Wednesday suggested the Financial Stability Oversight Council adopt a "tripwire approach" for systemic risk assessment, using systemic risk metrics to advance designations.
February 21
