Comptroller of the Currency Joseph Otting suggested the central bank was adopting a “partisan” stance against his plan to overhaul the Community Reinvestment Act.
The acquisition of the Texas-based lender will help Regions expand its offerings to small businesses while adding about $2 billion of loans to the bank's balance sheet.
Sen. Pat Toomey, R-Pa., had been among a handful of Republicans on the fence about Judy Shelton's nomination, but he said she quelled his concerns about her monetary policy views.
The decline in net interest income combined was among the reasons why year-over-year profits at the U.S. operations fell for the first time since 2012.
Discover Financial Services is being investigated by the agency over student loan-servicing practices and its compliance with a 2015 consent order involving the business.
