Ebrima Santos Sanneh

Administration of the Community Development Financial Institution Fund at the Treasury Department will be led by the CDFI Fund's legal counsel following the resignation of the fund's director.

The Treasury's financial crime agency delayed enforcement of a variety of Bank Secrecy Act requirements for investment advisors in order to gain time to revise and tailor regulations.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency proposed a rule that would revert the anti-discrimination framework to its 1995 standards.

The agency unveiled several deregulatory measures at a Tuesday board meeting, including a measure to tie regulatory thresholds to inflation, one creating a supervisory appeals office that reports to the board and withdrawal of a Biden-era rule on industrial loan companies.

Outgoing Acting Comptroller of the Currency Rodney Hood said in an interview with American Banker that advances can be made in economic inclusion through race-neutral policies, and he intends to keep up that fight as he leaves the Trump administration.

Major nonbank financial trade groups asked Treasury Secretary Bessent to scrap 2023 guidance expanding nonbank designations, citing cost and competitiveness concerns.

Despite bipartisan support and backing from bank trade groups, the Treasury scrapped a corporate ownership reporting rule meant to expose shell companies and aid financial compliance. But the problems that spurred the law's passage still remain.

The group expressed concern with the White House proposal to reduce the program's funding, and urged Appropriators to fund the bipartisan-backed Community Development Financial Institutions Fund.

Following deadly flash floods in Texas, the Office of the Comptroller of the Currency allowed national banks to close branches for safety.

Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.