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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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 -
New rules from Treasury's Financial Crimes Enforcement Network will mandate reporting for non-financed real estate transfers and expand anti-money-laundering requirements for investment advisors.
August 28 -
A bipartisan group of ex-inspectors general is pushing Senate leaders to quickly confirm Christy Goldsmith Romero to chair the Federal Deposit Insurance Corp. despite scheduling delays and the upcoming election.
August 13 -
Democrats Ritchie Torres and Gregory Meeks called on the New York Home Loan bank to follow the lead of its peers and use alternative credit scoring models for collateral to improve consumers' access to homeownership.
August 9 -
While the federal banking agencies are not changing any current rules, they issued a joint statement Thursday cautioning banks about risks in third-party deposit partnerships. They are also seeking public input on bank-fintech partnerships more generally.
July 25 -
Federal Deposit Insurance Corp. Vice Chair Travis Hill has called for a full reproposal of the Basel III endgame capital standards, emphasizing the need for joint advancement by all three major federal banking agencies and an additional comment period for industry feedback.
July 24 -
Acting Comptroller of the Currency Michael Hsu said the OCC will review its 2020 interpretation of preemption under the Dodd-Frank Act and explore more direct engagement, tailored federal regulation and supervision of nonbank fintechs.
July 17
