Hauling cash, replacing cards, fixing ATMs: the stubborn costs banks can't eraseEven after years of lean times, big U.S. banks are coming under new pressure to cut costs. But management teams are finding some expenses simply won't budge – like the $1 billion a year it costs Bank of America Corp (BAC.N) to shuffle papers around and transport money in armored trucks.
Other stubborn costs – ranging from mailing paper account statements to replacing lost credit cards and repairing broken ATMs – show just how hard it will be for banks to boost earnings in the near-term if interest rates do not rise.....
http://www.reuters.com/article/us-usa-banks-expenses-idUSKCN0ZZ0AO
