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Kevin Wack

Staff Writer

Kevin Wack is a California-based reporter for American Banker who covers the U.S. consumer finance industry. He was formerly the newspaper's Capitol Hill correspondent. Earlier, he worked on financial policy in Washington, first as a fellow with the Senate Permanent Subcommittee on Investigations and later as senior editor for the Congressional Oversight Panel for TARP. Wack has also reported for the Associated Press and worked as the investigative reporter for the Portland Press Herald in Maine. A St. Louis native, Wack is a graduate of Stanford University and holds a master's degree from Northwestern University's Medill School of Journalism.

Recent Stories From this Author

Why Institutional Investors Are Shunning Online Lenders
May 3, 2016 Some buyers are hanging in there, but as OnDeck Capital's disappointing first-quarter results show, investors who acquire and...

OnDeck Reports $12.3M Loss, Stock Price Plunges
May 2, 2016 OnDeck Capital reported a quarterly loss of $12.6 million as revenues fell short of expectations. At the same time, the New...

Automation Will Replace Many Highly Paid Bankers: Fintech Execs
May 2, 2016 During a discussion Monday about the impact of technology on the financial sector, tech executives argued that banks are...

Yes, Banks Are in League with Law Enforcement. That's a Good Thing
April 29, 2016 The prosecution of former House Speaker Dennis Hastert illustrates why it makes sense to require bankers to share suspicions...

'I Don't Want to Call It a Bank': Online Lender Buying PFM App
April 27, 2016 With the purchase of Sweep, Max Levchin's firm is betting that daily engagement with consumers will pay long-term dividends.

CommonBond Sells $150 Million of Loans to Investors
April 25, 2016 CommonBond, an online lender that specializes in student loan refinancing, announced Monday that it has sold $150 million of...

Synchrony's Earnings Rise on Strong Loan Growth
April 22, 2016 Synchrony Financial reported solid earnings growth in the first quarter thanks to increased use of its credit cards, but the...

States Seize Initiative on Oversight of Online Business Lenders
April 22, 2016 Illinois, California and New York are all taking initial steps to try to crack down on borrower abuses in the fast-growing...

Online Student Lending Platform Rebrands as Purefy
April 20, 2016 An online student loan refinancing business that was recently spun off from a Virginia bank has been rebranded as Purefy Inc.

Overdraft Burden Falls Heavily on Younger, Poorer Consumers: Report
April 20, 2016 Research published in 2014 found that just 18% of U.S. checking account holders pay 91% of all bank overdraft fees.

Discover Revives Credit Card Loan Growth
April 19, 2016 Discover Financial Services reported higher loan growth in its flagship credit-card business during the first quarter,...

One More Sign that the Post Office Isn't Interested in Banking
April 18, 2016 The U.S. Postal Service is neglecting its profitable money-order business, which has lost 25% of its sales volume over the...

Wells Fargo Is Not Sweating Its Bad Report Card
April 14, 2016 The bank's top executives expressed confidence Thursday in their ability to address regulators' concerns about flaws in its...

No End in Sight to Banks' Energy Woes
April 14, 2016 Bank earnings season is just getting underway, but a consistent theme around energy lending is already emerging credit...

Activist Investor Fires Back in Fight with Green Dot
April 13, 2016 The public spat between Green Dot and one of its largest shareholders is escalating even as the shareholder raises its stake...

Funding Anxieties Threaten Marketplace Lending's Growth
April 13, 2016 Suddenly, online lenders are struggling, or paying higher prices, to attract the institutional money that has fueled their...

Online Lender Pave Announces $8M in Equity Funding
April 12, 2016 The New York company makes two- to three-year term loans of between $3,000 and $25,000. It is seeking to distinguish itself...

Four Steps Even Small Lenders Can Take to Prepare for Cyberattacks
April 12, 2016 Data breaches have become scarily commonplace. But even small financial institutions can take action to thwart hackers and...

Chase Quietly Launches Its Online Small-Business Loan Platform
April 12, 2016 The partnership with OnDeck will allow the megabank to approve and fund loans in as little as a day, according to CEO Jamie...

Marketplace Lending Grew by 700% in Four Years: Report
April 8, 2016 The findings from the California Department of Business Oversight, which also included data on interest rates and...