Strategic planning

In the newly created role, Daniel Budington will be responsible for developing strategic partnerships and identifying growth opportunities.

Goldman Sachs plans to offer details into its workings to boost its stock value; while challenger banks are prospering, traditional banks still rule the roost.

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.

The Bank is poised to pick two people to handle Simon Potter’s former job; Securities backed by subprime U.S. car loans are “going gangbusters.”

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.

Executives are deciding what roles could be relocated to lower-cost hubs such as Plano, Texas; Columbus, Ohio; and Wilmington, Del.

Perhaps the biggest test that Charles Scharf will face when he starts next week will be how to control expenses while still trying to make the necessary investments in risk management to satisfy regulators.

The institution also remained well capitalized and its membership rose in the first half of the year.

A new study suggests banks have the ability to operate leaner than ever before. That could fuel investor demands for more cost cutting and drive more banks to pursue M&A.