Ed Miliband is describing how to move from the "casino banking we have to the stewardship banking we need".
He said banks no longer care about the success of the firms they lend to because they are too concerned with making an "immediate return".
He said banks should have a "fundamental duty to serve the real economy".
More top news
Seasonal rains have battered the country since late June with more than 150,000 people affected by floods and landslides.
The bus reportedly hit a tree near Russell Square.
Low pressure will throw cloud and few showers across the UK today, but it will also draw in very warm air from Europe again.