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.
-
Acting Comptroller of the Currency Michael Hsu Thursday said AI providers and end-users — including banks — should share responsibility for errors that derive from artificial intelligence models.
June 6 -
As the private credit market swells, federal regulators and lawmakers continue to debate how and whether to apply oversight and heightened scrutiny to the market. But whether anything happens depends on whether President Biden wins a second term.
June 4 -
The Federal Deposit Insurance Corp.'s Quarterly Banking Profile for Q1 showed that banks' net income margins got a boost, but FDIC Chair Martin Gruenberg said concerns around inflation, interest rate volatility and geopolitical uncertainty could mean tougher quarters ahead.
May 29 -
Gone are the days when Wall Street executives dressed in conspicuously expensive clothing. Now the industry has adopted a more relaxed and casual dress code.
May 26 -
An agreement with the Office of the Comptroller of the Currency will require Dallas-based Comerica Bank to institute a list of corrective actions regarding a range of compliance issues, including wealth management, third-party risk and financial accounting.
May 23 -
FDIC chair Martin Gruenberg's departure from the agency may have political implications as the White House and Senate scramble to name a successor, but experts agree that the move will likely result in a weaker Basel rule and stronger role for the Federal Reserve in joint rulemakings.
May 22 -
The Consumer Financial Protection Bureau issued a new interpretive rule designating buy now/pay later lenders as credit card providers, subjecting those services to consumer protections like the right to dispute charges and receive refunds.
May 22 -
Federal Reserve Vice Chair Michael Barr Monday spoke at length about efforts to enhance banks' liquidity and long-term debt positions after last year's bank failures while saying little about the capital hikes in the embattled interagency Basel III endgame proposal.
May 20 -
The Senate Thursday joined the House in passing a resolution to overturn the SEC's SAB 121 accounting guidance for financial firms holding crypto in custody. President Biden has vowed to veto the measure.
May 16 -
Large banks, particularly those with over $100 billion in assets, see increasing supervisory shortcomings related to interest rate and liquidity risks, governance and risk control issues, and cite cybersecurity, CRE values, and remote work trends as potential hazards in the future.
May 10
