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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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 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 -
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 -
Treasury Secretary Janet Yellen announced an initiative aimed at enhancing financial inclusion. The plan includes calling on U.S. banks to participate in upholding fairness and expanding consumer financial access.
October 29 -
Federal Reserve Board Gov. Christopher Waller argued that while decentralized finance technologies can reduce reliance on intermediaries and enhance efficiency, they ultimately pair well with centralized finance.
October 18 -
Agencies must now provide clearer justifications for their interpretations, while Congress needs to draft more precise legislation. The decision could empower banks to challenge agency rules more frequently and potentially prolong regulatory processes, with courts giving less deference to agency interpretations.
September 19 -
After months of anticipation, Federal Reserve Vice Chair for Supervision Michael Barr is set to lay out the path forward for the interagency regulatory capital reform effort known as the Basel III endgame on Tuesday.
September 9 -
Net income climbed more than 11% from the first quarter, even as banks set aside more money for possible bad credit and wrestled with deteriorating office markets.
September 5 -
The Federal Reserve finalized its capital requirements for large banks Wednesday based on June's stress test outcomes.
August 28
