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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

Risks in Prime Auto Lending Are Rising for Banks: Moody's
May 26, 2016 The credit rating agency argues in a new report that the financing arms of auto manufacturers are better positioned than banks...

Obama Admin. to Supremes: Don't Take Case that Riled Bankers, Online Lenders
May 24, 2016 The Obama administration and an independent federal banking agency are advising the Supreme Court not to review a lower-court...

Disruption Is Overrated: Wells Fargo's Pragmatic Approach to Innovation
May 24, 2016 The San Francisco bank isn't interested in making splashy investments in technology. At an investor day event Tuesday, Wells...

Hold the Schadenfreude: Banks Also Stung by Online Lending Shakeout
May 24, 2016 During the ascension of marketplace lending, banks responded to the competitive threat in several different ways. Now some...

Green Dot's CEO Wins Proxy Fight, But It Comes at a Cost
May 23, 2016 Steve Streit retained his board seat Monday, but lost two allies, as a large shareholder indicated that it will continue...

Green Dot CEO Expected to Retain His Board Seat
May 23, 2016 Green Dotís embattled founder and chief executive, Steve Streit, is expected to be reelected to the board based on preliminary...

Another Online Lender Announces Layoffs, Shelves Expansion Plans
May 20, 2016 One of the country's largest online lenders is cutting jobs and shelving expansion plans in response to investors' rapid...

Prepaid Users to Walmart, Green Dot: We Can't Access Our Money
May 18, 2016 Users of the Walmart MoneyCard, issued by Green Dot, took to social media Wednesday to complain about problems they've...

Synchrony Financial Eyes Push into Small-Business Lending
May 17, 2016 Synchrony Financial, the credit card lender that was recently spun off from General Electric, is considering an expansion into...

Extreme Measures: Lending Club's Bid for Survival
May 17, 2016 Following the scandal-tinged departure of CEO Renaud Laplanche, the company is contemplating drastic steps to restore the...

Inside the Ugly, Often Personal Fight for Control of Green Dot
May 13, 2016 Steve Streit founded the nation's largest prepaid card issuer and took it public during a long tenure as CEO. Now he's locked...

Marketplace Lenders Draw Line in Sand: No Legislation
May 10, 2016 Industry representatives swiftly rejected the Treasury Department's assertion that new legislation is needed to protect...

Online Lenders Queried by Regulators on Referral Fees, Bank Deals
May 9, 2016 State officials in California have asked top online lending firms a series of probing questions regarding their compliance...

Lending Club Mess Raises Fresh Fears About a Market's Rapid Growth
May 9, 2016 The abrupt resignation of the firm's founder and CEO, under a cloud, seems likely to fan investors' growing fears about the...

Fed Flooded with Proposals to Make Faster Payments a Reality
May 9, 2016 The Clearing House, Dwolla and Ripple Labs are among more than 20 companies that are vying to play a lead role in modernizing...

Online Lenders' Stumbles: Growing Pains or Flawed Model?
May 4, 2016 Prosper Marketplace's decision to eliminate 22% of its workforce is more evidence that the bloom is off the rose for a sector...

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...

'There Is No One Blockchain to Rule Them All'
Don Tapscott and Alex Tapscott, authors of "Blockchain Revolution," discuss the implications for banks of distributed ledger technology, the pros and cons of private blockchains compared to open networks, how DAOs might eliminate moral hazard, and more.
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