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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Synchrony Financial said Tuesday that it is expecting loan losses to rise over the next year as more consumers struggle to pay off their credit card balances.
June 14 -
The federal agency expressed skepticism about industry-developed standards Thursday, suggesting that there is currently no way to enforce the rules or punish bad actors.
June 9 -
With its very survival at stake, the San Francisco-based marketplace lender is balancing key priorities that are sometimes in conflict with each other.
June 8 -
At a time when most banks are finding it harder to make money from overdraft fees, new data shows that Wells Fargo, Bank of America and JPMorgan Chase are bucking the industrywide trend. The numbers are renewing consumer-protection concerns ahead of a CFPB rule-writing process set to begin later this year.
June 6 -
The CEOs of banks that operate only online argued Thursday that their model is the way of the future. Not so fast, responded the heads of some of the nation's largest banks.
June 2 -
The prepaid card issuer issued conflicting statements in recent weeks as customers complained that they were unable to access their funds.
June 2 -
The prepaid card issuer issued conflicting statements in recent weeks as customers complained that they were unable to access their funds.
June 1 -
The credit rating agency argues in a new report that the financing arms of auto manufacturers are better positioned than banks to withstand a widely expected decline in used-car prices. The report also finds that the quality of auto loans made by banks has been declining.
May 26 -
The Obama administration and an independent federal banking agency are advising the Supreme Court not to review a lower-court ruling that has roiled the marketplace lending sector and caused consternation throughout much of the consumer finance industry.
May 24 -
The San Francisco bank isn't interested in making splashy investments in technology. At an investor day event Tuesday, Wells executives said they would focus on taking incremental steps to reduce costs and improve customer experiences.
May 24
