The plan, which the Federal Reserve Board approved Wednesday, would tailor compliance programs for banks based on their trading volume and revise definitions to help banks determine which trades are banned.
Deutsche Bank's U.S. business was put on a Federal Reserve list of problem banks and added to a group of troubled lenders monitored by the FDIC, according to a person familiar with the matter.
More than a dozen lawmakers wrote to the banking agencies Friday, arguing that any regulatory reforms to the Community Reinvestment Act should focus on expanding access to credit.
While industry officials welcomed a bulletin from the Office of the Comptroller of the Currency encouraging banks to develop alternatives to payday loans, they are making no commitments to offer such products.
Jelena McWilliams, most recently chief legal officer at Fifth Third, previously served as a Senate GOP aide and an attorney at the Federal Reserve Board.
Montgomery was confirmed by the Senate 74-23 to serve his second stint at the FHA, where he previously was commissioner during the George W. Bush administration.
