Strategic plans

There's a battle being waged by Bank of Montreal and its smaller rival, Canadian Imperial Bank of Commerce, as they compete against JP Morgan Chase and almost 200 other lenders in so-called "Chicagoland" — one of the toughest banking markets in the U.S.

Bank of Montreal is revamping its U.S. digital operation and targeting small businesses in the Midwest to boost growth at its BMO Harris Bank lender.

The OCC finds that Wells Fargo was not alone in its sales abuse practices (though it's not naming names); Fifth Third's Tim Spence is our Digital Banker of the Year; the CFPB acting director wipes out the agency's Consumer Advisory Board; and more from this week's most-read stories.

Banks should ensure that their employees are nimble enough to react when unexpected situations arise, just as many had to do during the 2008 crisis.

The move provides a strong hint of the long-term succession plan spearheaded by CEO Leon Holschbach