The US House included the revised Volcker Rule that we’ve discussed in a broader package of Dodd-Frank reforms that it passed with bipartisan support last night. The bill—ostensibly aimed at easing restrictions on small to midsize banks—raises the SIFI threshold and consolidates regulatory authority in the Fed, among other things – Bloomberg and NPR and Law360 and NYTimes and WSJ

Details on the at-home infighting that’s complicating the White House’s official response to ongoing high-stakes trade negotiations with China – NYTimes

While we’re at it, it’s worth noting that the White House is now denying claims that it reached a deal over the weekend to suspend penalties on Chinese telecom firm ZTE – NYTimes

Zuck had a bit of a day in Brussels, where he faced a “litany of question about his company’s global power, its role in elections and its misuse of user data,” yet benefitted from an “odd format” that saw European Parliament members asking questions one after another without pausing for answers and allowed the facebook CEO to respond only to a few select inquiries at the end of the questioning period – NYTimes and WSJ and Bloomberg

A purported class of homeowners now in federal court are accusing JPMorgan of foreclosing on them and “hundreds” of others after missed mortgage payments without federally required attempts to confer  with them – Law360

Fed May meeting minutes are out today – WSJ and Bloomberg

JC Penney CEO Marvin Ellison is heading for the door to take over leadership of Lowe’s—“another retailer in need of revamping” that’s dealing with activist investor pressure and a thus-far losing battle to keep pace with rival Home Depot – WSJ

A SDNY federal jury has convicted former Valeant exec Gary Tanner and one-time Philidor Rx Services CEO Andrew Davenport of wire fraud and conspiracy to commit money laundering charges related to a kickbacks and fraud scheme the two concocted – NYTimes and WSJ and Law360

Bloomberg gives us this troubling look at an America with sub-4% unemployment that, according to the Federal Reserve’s 2017 report on the economic well-being of US households, is for far too many just barely “hanging on” – Bloomberg

An Obama-era CFPB payday lending rule appears to have survived a 60-legislative-day deadline for challenge under the recently popular Congressional Review Act, but that doesn’t mean it’s destined to take full effect in 2019 as scheduled. Full story and predictions here – Law360

America’s big banks have been famously cool toward cryptocurrencies thus far, but as the Journal notes, some small lenders have embraced the virtual currency world (at times in an effort to differentiate themselves) as part of a risk they’re hoping will pay off despite the hazards involved – WSJ

We’re thoroughly enjoying this Deadspin feature on the St. Paul East Side’s own Johnson High School—once a hockey powerhouse (and home of Herb Brooks) and now an unrivaled force in women’s badminton – Deadspin