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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

What Can Be Done to Save Black-Owned Banks?
August 30, 2016 A longtime advocate for African-American-owned financial institutions argues that regulators should be taking more forceful...

New Avenue for a Taxi Banker: Online Lending
August 24, 2016 Medallion Financial, trying to diversify beyond its traditional business of financing taxi drivers, plans to issue loans on...

Fundation Secures $100M Credit Facility from Goldman Sachs
August 23, 2016 Fundation Group, a New York-based online small-business lender, announced Tuesday that it has secured a $100 million credit...

FAQ: Deadline for Same-Day Payments Nears
August 22, 2016 Next month all U.S. banks and credit unions will be required to process speedier payments on the automated clearing house...

'Safe' Accounts for Unbanked on Rise; Do They Do Much Good?
August 22, 2016 U.S. Bancorp is the latest big bank to offer an overdraft-free account. Skeptics are questioning how many Americans are...

LoanDepot Raises $150M in New Debt Financing
August 17, 2016 LoanDepot, a Foothill Ranch, Calif.-based company that offers mortgages, home equity loans and personal loans, has raised $150...

Texas Sees Outsize Growth in Consumer Debt, Prompting Worries
August 16, 2016 Some observers are concerned that borrowers in energy-dependent regions, in an effort to compensate for pay cuts, are becoming...

Prosper Reports $35M Loss as Revenue Plummets
August 16, 2016 Like its peers, the San Francisco-based marketplace lender is struggling to manage the fallout of a sharp reversal in the...

Subprime Online Lender Shores Up Its Funding Base
August 16, 2016 Avant, an online consumer lender based in Chicago, is shoring up its funding base with a pair of new transactions.

Mastercard-Green Dot Snafu Ensnared 58,000 Accounts, Probe Finds
August 11, 2016 New documents shed light on the recent incident in which many prepaid card users reported that they were unable to access...

Lending Club Finds It Hard to Reconcile with Banks
August 9, 2016 The embattled firm is offering financial incentives in an effort to kick-start lending, but compliance-focused banks have been...

Lending Club CFO Quits; Firm Posts $81M Loss
August 8, 2016 Lending Club announced the resignation of its chief financial officer while reporting an $81.4 million quarterly loss due...

What to Watch for in Lending Club's 2Q Results
August 5, 2016 The scandal-plagued marketplace lender is set to report earnings Monday, and the results aren't likely to be pretty. The big...

Ally to Investors: Auto Worries Are Overblown
August 4, 2016 During a conference call with analysts on Thursday, executives at Ally Financial sought to dispel concerns that losses may...

Profits, Revenue Forecast Rise at Green Dot
August 4, 2016 Green Dot profits more than doubled to $8 million in the second quarter as revenues rose slightly and expenses ticked down.

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...

Will Tech Advances Hurt the Underbanked?
It's long been assumed that technology will help the financially underserved access the banking services they need. Christine Duhaime, founder of the Digital Financial Institute, a fintech think-tank, says this assumption is wrong.
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