Expense management

‘Extraordinarily inefficient’: Scharf’s blunt assessment of Wells Fargo


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.


Mergers of equals are hard. For small banks, they're even harder.


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.


Credit unions prevail over banks in battle for military base access


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.


Smaller banks take a turn swinging the ax


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.


JPMorgan weighs shifting thousands of jobs out of New York area


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


Costs weigh on Wells Fargo as new CEO prepares to take reins


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.


Belt-tightening success may lead banks to more ... belt-tightening


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.


Big-bank headcounts aren't budging


Pockets of job growth — in technology and compliance as well as from branch openings in new cities — are offsetting some of the dramatic cuts elsewhere at the world’s largest lenders.


Merger costs eat into Fifth Third’s 2Q profit


Earnings at the Cincinnati company fell 25% from the same period last year, largely due to $109 million in expenses tied to its March acquisition of MB Financial.


M&T defends 12% increase in costs


While executives at the Buffalo, N.Y., bank said they would take a closer look at spending, especially given the potential for interest rate cuts, they described investments in tech talent as an essential cost of doing business.