We’ve got a number for that Wells Fargo settlement/fine, and it’s a doozy: $185 million for illegal banking practices (including secretly issuing credit cards without customer consent, signing up customers for online banking services via fake email addresses, and setting up sham accounts) dating back to 2011 that amount to cross-selling gone horribly wrong – NYTimes and WSJ and Bloomberg and Law360

6 years after Dodd-Frank dealt Private Equity a rare setback, PE’s still trying to roll back its increased oversight, and it’s throwing its considerable weight behind a House bill that would do just that – NYTimes

Meanwhile, new regs are in the hopper—these largely targeting banks’ involvement in commodities and businesses outside of traditional lending – WSJ and Bloomberg

Deutsche Bank is reportedly nearing a massive settlement with US authorities over its alleged role in the sale of pre-crisis toxic RMBS.  German outlet Manager Magazin suggests DB could be facing a penalty that exceeds the $2.38 billion Goldman faced for similar accusations – Bloomberg

Lynn Tilton’s anti-SEC crusade hit a bit of a bump this week, as administrative law judge Carol Fox Foelak denied several of Tilton’s discovery requests and invoked the dreaded “fishing expedition” label – Law360

With St. Jude Medical facing allegations of cybersecurity vulnerabilities in its devices, an interesting coalition of a hedge fund and nascent cybersecurity firm have teamed up [it appears, at least] to make a buck on shorting St. Jude stock – NYTimes

Marketplace on the [sort-of] surprising resurgence of junk bonds [cue our chorus: “It’s all about the search for yield . . .”] – Marketplace

The long-awaited opening of the mall within the $4 billion Calatrava-designed transit hub at the WTC site has brought a renewed design focus to lower Manhattan. Yesterday, REX released images for the future Perelman Center—a stunning arts complex set to rise nearby.  Check it out – ArchDaily

With school back in full swing this week, here’s a look at an essential accessory—the backpack—that’s, well, no longer your daddy’s JanSport – Bloomberg

Have a great weekend.