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.
-
Congressional representatives push to ease regulatory hurdles for de novo banks, citing barriers to entry for small lenders.
February 5 -
Trump's executive order to create a U.S. sovereign wealth fund raises important questions — as yet unanswered — around funding, governance, political interference and the purpose that such a fund would serve.
February 5 -
The finance arm of the Detroit automaker has resubmitted its application for an industrial loan company charter to the Federal Deposit Insurance Corp. after withdrawing its prior application last year.
February 4 -
Donald Trump's second administration is widely expected to be far less skeptical of bank mergers than the Biden administration has been, but industry experts say that political opposition to big bank mergers and business considerations will still be roadblocks.
February 4 -
The cannabis industry and its financial partners see potential gains under Trump, either in the form of direct changes in policy, economic incentives or the nascent effort to curb debanking.
January 31 -
The Supreme Court nullified one of two nationwide injunctions on the Corporate Transparency Act, a law requiring corporations to disclose their beneficial owners. A separate injunction in another circuit remains in effect, however.
January 24 -
The Federal Deposit Insurance Corp. Tuesday officially withdrew from an international regulatory body devoted to combatting climate-driven financial risks, following similar actions by other U.S. bank regulators.
January 21 -
The Federal Deposit Insurance Corp.'s newly installed Acting Chairman Travis Hill issued a statement laying out his priorities for the agency, including reviewing and repealing Biden-era bank regulations, a softer approach to fintech and crypto and addressing so-called debanking.
January 21 -
The Chicago-based bank, which failed Friday in the first bank failure of 2025, caused a $28.5 million hit to the Deposit Insurance Fund. The FDIC was appointed receiver and Millennium Bank will assume all deposits.
January 17 -
The lawsuit alleges mismanagement and fiduciary breaches caused SVB's 2023 collapse, costing the Deposit Insurance Fund $23 billion.
January 17 -
Scott Bessent, Donald Trump's pick to serve as Treasury Secretary, handled a policy-heavy confirmation hearing with poise, highlighting his preference for relaxed bank regulation, support of the 2017 Trump tax cuts and a hawkish approach to spending.
January 16 -
The Biden administration is asking the Supreme Court to overturn a lower court injunction against the Corporate Transparency Act, which requires businesses to disclose their beneficial owners. The outcome has significant implications for banks' AML compliance burdens.
January 16 -
Hedge fund manager Scott Bessent, President-elect Donald Trump's pick for Treasury Secretary, will appear before the Senate Finance Committee for his confirmation hearing Thursday morning starting at 10:30 am.
January 16 -
The Office of the Comptroller of the Currency issued fines amounting to $18.5 million to three former Wells Fargo executives in response to unsafe sales practices from 2013 to 2016.
January 14 -
A cohort of bank industry interest groups called for the incoming Trump administration to pause all pending bank regulation and litigation and extend the timelines for implementing final rules issued by the Biden administration.
January 13 -
The Federal Deposit Insurance Corp. granted nonbank investment firm BlackRock an extra month to come to an agreement with the agency over its substantial stakes in certain FDIC-regulated firms, a matter that Republicans and Democrats have both expressed concern about.
January 13 -
In a speech outlining his priorities for the FDIC, Vice Chair Travis Hill stressed the need for a more flexible regulatory approach, addressing capital requirements, digital assets, climate policy, and bank oversight, while emphasizing transparency and timely action.
January 10 -
While most of the Biden administration's prudential banking regulations can't be overturned under the Congressional Review Act, late-breaking rules by the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency's M&A rules could be overturned.
January 9 -
Acting Comptroller of the Currency Michael Hsu reflects on his tenure, the challenges of financial regulation, and the delicate balance of fostering innovation while maintaining trust in the financial system.
January 7 -
Bankers expected big changes for community banks, digital assets and regulation. Were they correct?
December 30
