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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 Credit Card Losses Are Poised to Rise
July 22, 2016 Some big banks are venturing further down the risk spectrum after a long period of unusually strong credit performance.

Synchrony Posts Solid Loan Growth, But Profits Dip
July 22, 2016 Synchrony Financial enjoyed strong loan growth in the second quarter, but gains in interest income were more than offset by a...

Profits Grow Alongside Expected Losses at Capital One
July 21, 2016 Profits rose by 9% at Capital One Financial during the second quarter thanks to strong growth in the firm's credit card and...

Federal Agency Teams Up with Online Small-Business Lender
July 20, 2016 In an acknowledgement that many U.S. small businesses cannot qualify for a bank loan, a federal agency that assists...

Delinquencies Rise Along with Profits at Discover
July 19, 2016 Profits rose nearly 3% at Discover Financial Services in the second quarter thanks to solid loan growth and a one-time tax...

Online Lender Acquires Student Loan Site, Raises Another $30M
July 19, 2016 CommonBond is doubling down on the education-debt market, which has been a pocket of tranquility in an otherwise volatile...

Wells Fargo's Mortgage Machine Shows Signs of Vulnerability
July 15, 2016 The San Francisco bank reported a 17% drop in mortgage fee income during the second quarter as other lenders made inroads by...

Marijuana Business Burns Small Illinois Bank
July 13, 2016 Millennium Bank is said to have been the target of an enforcement action related to its work with the pot industry. The...

U.S. Said to Be No. 2 Out of 20 Countries in Credit Card Fraud
July 12, 2016 Nearly half of U.S. consumers say they have been hit by credit card fraud within the last five years, and those breaches are...

Schwab, BBVA Compass, Mechanics Bank Invest in Nonprofit Lender
July 12, 2016 Charles Schwab Bank, BBVA Compass and Mechanics Bank are among the latest investors in a California microfinance firm that...

Private Student Loans Get an A for Credit, C for Growth Prospects
July 8, 2016 The percentage of private student loans that were at least 30 days past due has plunged to its lowest level since the Great...

Consumer Credit Performance: The Good News Side of the Energy Crisis
July 6, 2016 The sharp fall in gas prices early this year helped U.S. consumers to stay current on their credit obligations during the...

Payday Loan Overhaul May Have Big Impact on Credit Reporting
July 6, 2016 Reports from the big three credit bureaus do not include information about payday loans, but a CFPB proposal figures to shake...

Avant Plans More Job Cuts amid Sharp Contraction in Online Lending
July 1, 2016 For the second time in six weeks, the online lender Avant is taking steps to reduce the size of its workforce.

In One Way, the U.S. Mortgage Market Looks Just Like It Did in 2007
July 1, 2016 The U.S. mortgage market is of course considerably smaller, safer and less accessible than it was nine years ago.

Why Two of Europe's Biggest Banks Can't Pass the Stress Test
June 29, 2016 The vast majority of big banks seem to be getting a handle on the costly, labor-intensive and time-consuming stress-testing...

Clash Brewing Over Robo-Calls from Mortgage Servicers
June 29, 2016 The Federal Housing Finance Agency wants mortgage servicers reaching out to delinquent borrowers to be exempt from tough...

New Credit Card Firm Aims to Plug Online Security Gap
June 29, 2016 The credit card industry's switch to microchips has improved security, but fraudulent online purchases remain a big...

What to Make of Lending Club's Latest Bad News Dump
June 28, 2016 Seven weeks into a crisis precipitated by the ouster of the company's longtime CEO, the embattled marketplace lender is trying...

Supreme Court Declines to Hear Usury Law Case, Despite Industry's Pleas
June 27, 2016 In a setback for the U.S. consumer finance industry, the Supreme Court said Monday that it will not review a lower court's...

'Capital Doesn't Matter. Confidence Is What Matters'
Christopher Whalen, senior managing director and head of research at Kroll Bond Rating Agency, discusses the sorry state of European banks, the missteps by European Union regulators and the potential ramifications for financial institutions in the U.S.
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