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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.

Fifth Third, Capital One Cut Off Payday Lenders
April 16, 2014 The moves are part of a recent trend of banks exiting businesses that they believe have fallen out of favor with regulators.

Amex Reports Modest Rise in Revenue, Larger Jump in Profits
April 16, 2014 American Express (AXP) reported a 12% increase in earnings Wednesday on the strength of improvements in credit quality, cuts...

States Splitting with Feds on 'Operation Choke Point'
April 14, 2014 The federal push to stamp out illegal online lending is having unintended negative consequences, an umbrella group for state...

How Wells Fargo Plans to Keep Its 'Earnings Machine' Humming
April 11, 2014 The San Francisco bank is mainly counting on organic loan growth and improved asset quality to drive future profits, but it...

Delinquencies on Home Equity Loans, Credit Cards Head in Opposite Directions
April 9, 2014 Late payments by credit card customers are finally rising, while delinquencies on home equity loans are at their lowest level...

Big Banks' Overdraft Policies Show Modest Improvement: Report
April 9, 2014 Some large banks have adopted more consumer-friendly policies, but many still engage in practices that seem designed to...

'Operation Choke Point' Is Hurting Small Banks: ICBA
April 8, 2014 The nationwide trade group for community banks is asking the Department of Justice to suspend its push to keep questionable...

Fed Endorses Latest Industry Push for Same-Day Payments
April 7, 2014 The Federal Reserve's retail payments office announced Monday that it "fully supports" the most recent push within the banking...

Payments Industry Adapts to 'Choke Point' Crackdown
April 7, 2014 Two trade groups publish new guidelines designed to help banks and processors stay out of authorities' crosshairs.

Cheat Sheet: What to Expect from CFPB on Payday Lending
April 4, 2014 The controversial industry will soon be regulated for the first time on a nationwide basis. Here’s a guide to what's coming.