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 percentage of private student loans that were at least 30 days past due has plunged to its lowest level since the Great Recession. That is the good news for private lenders. The bad news is that the business is barely growing because the federal government continues to dominate the market.
July 8 -
Reports from the big three credit bureaus do not include information about payday loans, but a CFPB proposal figures to shake up that arms-length relationship.
July 7 -
The sharp fall in gas prices early this year helped U.S. consumers to stay current on their credit obligations during the first quarter.
July 7 -
Reports from the big three credit bureaus do not include information about payday loans, but a CFPB proposal figures to shake up that arms-length relationship.
July 6 -
For the second time in six weeks, the online lender Avant is taking steps to reduce the size of its workforce.
July 1 -
The U.S. mortgage market is of course considerably smaller, safer and less accessible than it was nine years ago.
July 1 -
The U.S. mortgage market is of course considerably smaller, safer and less accessible than it was nine years ago.
July 1 -
The vast majority of big banks seem to be getting a handle on the costly, labor-intensive and time-consuming stress-testing process. But for a pair of large banking companies, Santander Holdings USA and Deutsche Bank Trust Corp., the stress tests have so far proven to be an unconquerable challenge.
June 29 -
The credit card industrys switch to microchips is expected to improve security at the point of sale, but fraudulent online purchases remain a big vulnerability.
June 29 -
The Federal Housing Finance Agency wants mortgage servicers reaching out to delinquent borrowers to be exempt from tough restrictions on robo-calling. But the idea is being panned by consumer groups, who say it would give a free pass to mortgage servicers that have a record of consumer-protection violations.
June 29
