Expense management

Executives say they can still meet their goal of $480 million in cost savings this year from the combination of BB&T and SunTrust despite unexpected expenses, unless the economy fails to rebound quickly.

Cobalt Credit Union is currently a state-chartered institution but is looking to once again become a federal one because of Iowa state taxes.

Margins will be squeezed after the Federal Reserve lowered interest rates earlier this month to counteract the economic fallout from the coronavirus.

The bank still plans to open branches on the West Coast even as it trims its overall U.S. footprint by 30%.

The bank's announcement that it will slash about 35,000 staff and take $7.3 billion of charges prompted its stock to tumble and renewed questions about the bank's direction and lack of a permanent CEO.

As faster payments change how quickly companies get paid, these same organizations are looking to add speed to the way they manage internal expenses.

The tight labor market and public pressure to raise minimum wages are expected to nudge noninterest expenses upward in a year when the watchword is cost control.

Emburse, a new consolidation of several corporate expense management platforms, now supports instant reconciliation of business expenses at the moment the transaction occurs.

The Toronto firm, Canada’s fifth-largest lender by assets, must keep “a careful eye on costs” and improve efficiency, its CEO said in a corporate memo.

The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal.