Lenders See Little Choice: Layoffs

The bank said last week it would eliminate 850 jobs, 13% of its staff, and close 39 branches to save $100 million in expenses a year.
. . .
Lending growth is still relatively sluggish, and new laws limit bank fees, so the only way to improve the ratio is to lower costs.

New laws limit bank fees. Hmmm. Imagine that.

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