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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Financial institutions across the country are in the final stages of readying for the same-day processing of electronic payments, which are scheduled to begin on Sept. 23.
By Kevin WackAugust 23 -
Next month all U.S. banks and credit unions will be required to process speedier payments on the automated clearing house network. Here is what bankers need to know.
By Kevin WackAugust 22 -
This week Minneapolis-based U.S. Bancorp is launching a new consumer account that's designed to appeal to millions of Americans shut out of the mainstream financial system.
By Kevin WackAugust 22 -
U.S. Bancorp is the latest big bank to offer an overdraft-free account. Skeptics are questioning how many Americans are benefiting from these products, and want banks to do more to market them.
By Kevin WackAugust 22 -
LoanDepot, a Foothill Ranch, Calif.-based company that offers mortgages, home equity loans and personal loans, has raised $150 million in term debt financing.
By Kevin WackAugust 17 -
Like its peers, the San Francisco-based marketplace lender is struggling to manage the fallout of a sharp reversal in the interest of investors.
By Kevin WackAugust 16 -
Some observers are concerned that borrowers in energy-dependent regions, in an effort to compensate for pay cuts, are becoming overleveraged. But lenders say they are being prudent.
By Kevin WackAugust 16 -
Avant, an online consumer lender based in Chicago, is shoring up its funding base with a pair of new transactions.
By Kevin WackAugust 16 -
New documents shed light on the recent incident in which many prepaid card users reported that they were unable to access their own money.
By Kevin WackAugust 12 -
New documents shed light on the recent incident in which many prepaid card users reported that they were unable to access their own money.
By Kevin WackAugust 11