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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

Rising Loan Losses Hold Down Profits at Discover
October 25, 2016 Credit losses rose substantially at Discover Financial Services during the third quarter, but the Riverwoods, Ill.-based card...

Is Lending Club Late to the Auto-Finance Party?
October 25, 2016 The online lender is entering the car-loan market at a time when some banks are scaling back and regulators are sounding the...

Bizfi Hires Former Lending Club Exec as New CEO
October 24, 2016 Bizfi, a New York-based online small-business finance company, announced the hiring of John Donovan as its new chief executive...

Synchrony's Earnings Jump 5% as Card Use Surges
October 21, 2016 Strong loan growth sparked higher third-quarter earnings at Synchrony Financial, the credit-card issuer that was spun off from...

Wells Fargo Says It Has a New Strategy, Offers Scant Details
October 14, 2016 Wells Fargo’s freshly installed CEO made clear Friday that he wants to chart a new course following the revelation that...

Retail Banking Customer Sign-Ups Plunge at Wells Amid Scandal
October 14, 2016 Consumers voted with their feet in September, as the embattled bank said Friday that new checking accounts were down by 25%...

Wells Exec, Ex-Employee Clash at Calif. Hearing on Scandal
October 11, 2016 A top Wells Fargo executive and a former employee painted very different pictures of the culture and oversight at the San...

Small Banks Assert Themselves in Fast-Payments Debate
October 6, 2016 Two community banks have put forward plans for a speedier U.S. payment system. They're up against the industry's giants.

New App Lets Car Buyers Arrange Financing Over Their Phones
October 5, 2016 A new app aims to modernize the automobile financing process by allowing car shoppers to get credit approval on their phones.

Wells' Stumpf Called to Testify for Third Time About Fake Accounts
October 4, 2016 Wells Fargo Chief Executive John Stumpf may get a third grilling by lawmakers over the fake-accounts scandal that continues to...

Fed Panels to Evaluate 19 Proposals for Faster U.S. Payments
October 4, 2016 The Federal Reserve said Tuesday that 19 private-sector proposals are now under review by nearly 500 members of two separate...

Prosper Shuts Down the Secondary Market for Its Loans
October 3, 2016 Prosper Marketplace is closing the secondary market for its loans, citing a lack of demand among investors.

Bigger Banks Are Gobbling Up a Larger Share of Deposits: FDIC
October 3, 2016 Total deposits at U.S. banks climbed nearly 6% year over year, to $11.3 trillion, even as the total number of banks and...

Goldman Sachs Reveals New Details About Its Consumer Lending Arm
September 27, 2016 The Wall Street firm believes that its gold-plated brand will help attract middle-class borrowers.

Master Navigator: Bank of the West's Nandita Bakhshi
September 25, 2016 How an uncommon knack for bridging different cultures helped Nandita Bakhshi rise to the top job at Bank of the West.

Santander Consumer Restates Earnings Again as Accounting Woes Fester
September 23, 2016 The subprime auto lender continues to struggle to get its arms around accounting issues that date to 2013.

After Brutal Hearing, What's Next for Wells Fargo?
September 20, 2016 John Stumpf may have hoped that Tuesday's hearing on Capitol Hill would mark a key turning point in Wells Fargo's blossoming...

'You Should Resign': Stumpf's Rough Day on Capitol Hill
September 20, 2016 Wells Fargo Chief Executive John Stumpf was relentlessly questioned by lawmakers for nearly three hours Tuesday about what he...

Push to Boost Pay in Branches Gets Help from Wells Scandal
September 19, 2016 A union-led coalition is seizing the opportunity presented by the firing of 5,300 workers at Wells Fargo to call for higher...

Wells Fargo Says Decision on Clawing Back Pay Rests with Board
September 19, 2016 Wells Fargo's board of directors will decide whether to claw back any executive compensation that may have been tied to...

Banks are just as vulnerable to the kind of nation-state cyberattack Yahoo suffered, and can avoid some of the mistakes it made, says Samuel Visner of the consulting firm ICF and an adjunct professor at Georgetown University.