Expense management

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.

Steuben Trust received two bites from potential MOE partners, but the New York bank’s lightly traded stock and many other challenges forced a sale to a much larger rival instead.

House and Senate lawmakers have denied a push by banking groups to grant banks the rent-free access to military installations that credit unions have.

While layoffs at big banks get the headlines, small and midsize lenders are also trimming payrolls in response to lower rates and fears that a recession is getting closer.