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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Acting Comptroller of the Currency Michael Hsu urged the banking industry to not let safety and soundness concerns overshadow fairness in banking, which he said is an equally crucial aspect of market stability.
March 30 -
The Federal Deposit Insurance Corp. told neobank Utoppia to cease using the FDIC name, in Spanish and English communications.
March 27 -
Silicon Valley Bank and its customers favored the simplicity and convenience of eschewing deposit insurance coverage despite the risks. Some experts say regulators' decision to make depositors whole might be sending the industry the wrong message.
March 27 -
The Office of Financial Research — a Treasury agency tasked with examining sources of systemic financial risk — published a report that found that full integration of a central bank digital currency could hurt banking-sector stability but offers significant benefits for consumers.
March 22 -
On Monday, the top banking Republicans in both chambers laid blame for Silicon Valley Bank and Signature Bank's failures on the Federal Deposit Insurance Corp. and Federal Reserve, and they asked the agencies for a full autopsy of what went wrong.
March 20 -
The high-stakes acquisitions of 2008 and subsequent legal liabilities have sapped enthusiasm from many prospective buyers for Silicon Valley and Signature Banks. The Federal Deposit Insurance Corp. may end up having to sell assets piece by piece.
March 17 -
Regulators covered Silicon Valley Bank and Signature Bank customers' money, and will need to replenish the Deposit Insurance Fund with higher assessments. But smaller banks don't want to pay for larger banks' mistakes.
March 13 -
The voluntary liquidation of one of the most crypto-friendly banks has sent ripples through political and policy circles, but the concrete effects and lessons to be learned may take time to untangle.
March 9 -
Nonbanks that refer to "deposits" and "APY" interest payments are drawing scrutiny from regulators, and some observers say Congress needs to clarify what nonbanks can say about their interest-bearing offerings.
March 3 -
The Treasury will join with a group of Federal Reserve and other agencies to develop standards that they hope will shape both foreign CBDCs and a U.S. government digital dollar, should Congress authorize one.
March 1
