Kevin Wack is American Banker's national editor, and is based in southern California. He was formerly the publication's consumer finance reporter and its Capitol Hill correspondent. Earlier, he worked on financial policy in Washington. He has also reported for the Associated Press and worked as the investigative reporter for the Portland Press Herald in Maine.
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The San Francisco bank said Friday that it plans to close at least 400 branches over the next two years, part of an effort to reduce annual expenses by $2 billion.
January 13 -
Documents from Massachusetts complicate the narrative that marijuana businesses either can’t get bank accounts or are only being served by small institutions.
January 11 -
Even in the age of Watson, computers are still only as smart as the people who teach them.
January 9 -
The burden of paying off student loans is increasingly falling on parents and grandparents, and a new report from the CFPB finds that these older borrowers are having a tough time making payments.
January 6 -
American Express has prevailed in its latest round of legal sparring with the Justice Department.
January 6 -
American Express has prevailed in its latest round of legal sparring with the Justice Department.
January 6 -
The state's highest court ruled that lenders affiliated with Native American tribes are not entitled to sovereign immunity and must comply with state interest rate caps. It marks the latest triumph for consumer groups and state governments that have sought to rein in high-cost consumer lenders.
January 3 -
John Stumpf and Carrie Tolstedt were ardent evangelists of the bank's sales strategy and culture. Their refusal to move in a new direction left Wells Fargo with problems that will take a long time to fix.
December 20 -
Citizens Financial Group in Providence, R.I., said Tuesday that it expects to start offering digital small-business loans in mid-2017.
December 20 -
Longtime CEO Richard Kovacevich retired from Wells Fargo almost a decade ago, but understanding the scandal that has engulfed the bank requires a close look at the cross-selling mindset that he left for his successors. It was a culture in which the sales often justified the means.
December 19
