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.
-
A federal judge in Texas has blocked the enforcement of the Corporate Transparency Act, a key U.S. anti-money-laundering law that would require companies to report ownership details by January.
December 4 -
Federal Reserve Gov. Adriana Kugler credited immigration and rising productivity for the U.S. economy's resilience while emphasizing vigilance against risks to inflation and employment stability.
December 3 -
Wall Street has cheered President-elect Trump's selection of Scott Bessent to lead the Treasury because of his moderating influence and expertise, but his profile as an establishment figure in an anti-establishment administration could undermine his authority.
December 2 -
Gruenberg, the Federal Deposit Insurance Corp.'s longest-serving board member, will step down in January, marking the end of an era after nearly 20 years on the agency's board of directors.
November 19 -
The next Republican-led FDIC board will inherit a legacy of sexual misconduct and low morale brought to light last year. Despite the breadth of that challenge, industry watchers believe the agency's new leadership can deliver meaningful change.
November 19 -
The incoming Trump administration is expected to prioritize an activities-based oversight approach to nonbank entities, just as the Biden administration has. It may also leave its designation power intact, but unused.
November 14 -
The growth in mobile banking has lowered barriers to accessing the banking system, but the Federal Deposit Insurance Corp.'s National Survey of the Unbanked and Underbanked released Tuesday reveals that minority households are still disproportionately underserved.
November 12 -
The plea agreement, which includes a fine of more than $1.4 billion, penalizes TD for systemic money laundering violations. "We have the ability to profit, and we should be able to profit, but not at the expense of the law," said U.S. District Judge Esther Salas.
November 7 -
Experts anticipate that Trump's victory and expected shifts in regulatory leadership will delay finalizing Biden-era capital rules for large banks, with new officials likely favoring a less stringent Basel III framework and softer capital requirements.
November 6 -
Consumer groups and banks are pushing for increased regulation on credit unions, aligning on concerns over tax exemptions, consumer protection standards, and the rising trend of credit union acquisitions of community banks.
November 5
