The Leading Group on Internet Finance Risk, in charge of monitoring risks in China's internet finance industry, has called for increased supervision over businesses trying to skirt online lending regulations that cap the cost of borrowing. These central bank-backed regulators are targeting platforms that have found ways around the annualised cap of 36 per cent for interest rate and fees charged on a loan, according to news service, Caixin.com. The specialist Chinese news service cited documents that indicated some platforms have been able to ignore the rules by charging membership fees or setting up "leaseback" agreements.  Online military bank USAA has filed a federal lawsuit against Wells Fargo alleging patent infringement on its mobile remote deposit capture technology, Finextra reports, citing the Antonio Express-News. USAA, which holds around 50 patents connected to its technology that lets members deposit cheques by scanning them with mobile phones, is asking for unspecified damages from the US banking major. Last year, USAA began asking banks for licensing fees related to the patents. Wells has so far failed to license the technology, prompting the lawsuit. Investment banking is undergoing an "unlikely" resurgence a decade after the financial crisis.  For example, data collected by the Financial Times shows that group-wide profits last year of US$78.4 billion across the top nine investment banks - excluding the much-changed Bank of American - were higher than the US$75.4 billion recorded in 2007. In other words, industry profits in dollar terms are back, courtesy of crisis-era mergers, such as Barclays' assimilation of the US arm of Lehman Brothers, JPMorgan's purchase of Washington Mutual and the Bank of America-Merrill Lynch deal, have left the surviving banks with greater economies of scale. A succession of cost-cutting plans has made them leaner and an M&A boom has boosted fee income. Standard Chartered plans to apply for a virtual banking licence in Hong Kong, the first global bank to announce its intention to do so, the Financial Times reports, calling it "a sign the London-based emerging markets lender aims to launch a new banking business in the city." Unlike many other jurisdictions, Hong Kong's virtual banking licences will be full retail banking licences, the FT says, and as a fully licensed bank, StanChart already meets the requirements to offer virtual banking services.