'There is no division in our industry': BofA's Moynihan
Brian Moynihan, chief executive officer of Bank of America.
Banks of all sizes need to stick together to ward off threats from "unregulated" fintechs and other nonbanks, Bank of America Chairman and CEO Brian Moynihan said Tuesday.

(Full story here.)
A payday lender in disguise? New York investigates the Earnin app
The Earnin app appears designed to look like other early wage access programs, but critics say it's actually a payday lender and New York regulators have taken notice.

(Full story here.)
Why CFPB payday revamp is an even bigger deal than you think
CFPB Kathy Kraninger
The proposed rollback of underwriting requirements for small-dollar lenders could redefine a legal doctrine that governs rules affecting other companies as well.

(Full story here.)
Morgan Stanley's new data strategy for higher quality AI
Gerard Heste and Liezel McCord of Morgan Stanley.
The bank is one of many to realize that artificial intelligence is only as good as the data fed into it.

(Full story here.)
John Mack, Mary Meeker leaving LendingClub board
Outside of Lending Club offices
The San Francisco-based online lender said that the departures of two prominent board members are not the result of any disagreement with the company.

(Full story here.)
There's another way to beat big banks at tech
Community and regional banks may not be able to outspend their larger rivals, but they can be more nimble in implementing the necessary culture change.

(Full story here.)
With lawyer as interim CEO, Wells Fargo looks to mend fences with regulators
Allen Parker
The bank's decision to select its general counsel as successor to Tim Sloan, albeit on a temporary basis, focused attention on its frayed relationships with the Federal Reserve and the OCC.

(Full story here.)
House Democrat moves goalposts for GSE reform
Rep. Gregory Meeks
Rep. Gregory Meeks of New York signaled which legislative provisions Democratic leaders would accept in a bipartisan housing finance package.

(Full story here.)
Post-crisis organizers find a whole new de novo ballgame
While regulators now seem eager to help, organizers are discovering that they must raise more capital and have diverse business models to get charters approved.

(Full story here.)
Warren doubles down on ending 'too big to jail'
Sen. Elizabeth Warren
The Massachusetts senator introduced legislation Wednesday that would require executives of large corporations to serve jail time when their companies commit crimes, including for violations of civil law.

(Full story here.)