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If the agency’s treatment of Bank of America is extended to the rest of the industry, it will cause widespread confusion and excessive regulatory burden.

By accumulating a network of specialized fintechs, the card brand can connect those vendors to banks and merchants that want to build new payment services.

Chris Conway will step down as president and CEO of Educational Systems Federal Credit Union early next year. He will be replaced by Chief Financial Officer Girado Smith.

Net interest income at Bank of America rose 22%, exceeding expectations even in a higher-rate environment. However, net income fell as expenses rose and investment banking revenues fell amid market tumult.

Amplify Credit Union in Austin, Texas, started thinking about removing all banking fees two years ago. First, it had to overhaul its online account-opening process.

The bank’s Business Essentials platform offers digital accounting management to smaller commercial clients. It comes at a time when banks are hunting for sources of fee income.

The New York megabank has a long way to go on its path toward simplification of its business, but some early investments — such as technology upgrades in the treasury unit, which serves commercial customers — are starting to pay small dividends.

Like other mortgage lenders, the San Francisco megabank has been cutting staff since refinancing volumes started to fall. Additional layoffs are expected over the next couple of quarters, according to the bank’s chief financial officer.

Affirm Geeks up, Bankers Helping Bankers starts VC fund and more in banking news this week.

Expanding its support into digital assets will let users see a more complete financial picture in personal finance apps that use Plaid for data aggregation.