After overseeing a rollback of banking and financial services regulation, the Trump administration is now urging US banks to do more small-dollar, unsecured lending, reports the FT. Joseph Otting, a former bank CEO now heading the Office of the Comptroller of the Currency, said struggling consumers currently turning to payday lenders and pawn shops "should have more choices that are safe and affordable, and banks should be part of that solution". It comes a day after Congress approved the biggest changes to financial regulation in eight years. Otting's office published a set of principles for short-term loans that tell banks they can assess consumers' credit-worthiness using non-conventional data even if they do not meet traditional borrowing standards. It also told banks they should report borrowers' repayment activities to credit agencies in a timely manner so consumers could rebuild their credit scores. Italy has a new government - formed of eurosceptic and anti-establishment parties that have threatened to scrap deficit reduction plans and challenge the EU fiscal rules that Germany would prefer are kept. The new government, formed of the Five Star movement and the Northern League, has a politically inexperienced law professor, Giuseppe Conte, as Prime Minister. So far, the new government has stopped short of calling for an end to the euro, but some fear another Greek situation with Germany having to face down an indebted EU member (and Italy's debt is much bigger than Greece's). Financial markets have heavily sold-off Italian stocks and government bonds at the prospect. Deutsche Bank's chairman Paul Achleitner will face a vote of no-confidence at the end of this week, potentially thrusting Germany's biggest bank into "a period of even greater uncertainty", reports the FT. Strategic investors including UK investor Hermes and the US asset manager BlackRock, as well as two Qatari investment funds, are reportedly increasingly critical of Achleitner after his ousting of CEO John Cryan. The FT says one large investor described the CEO succession process overseen by Achleitner as a "screw-up of amazing proportions". Deutsche is also set to cut up to 10,000 jobs, mostly in its struggling US and UK investment banking divisions, reports the FT. This would represent about ten per cent of Deutsche's global workforce.