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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During the ascension of marketplace lending, banks responded to the competitive threat in several different ways. Now some banks are better positioned than others to take advantage of the online sector's recent woes.
May 24 -
Steve Streit retained his board seat Monday, but lost two allies, as a large shareholder indicated that it will continue pushing for his ouster.
May 23 -
Green Dot's embattled founder and chief executive, Steve Streit, is expected to be re-elected to the board based on preliminary voting results from its annual meeting, the company announced Monday.
May 23 -
Green Dots embattled founder and chief executive, Steve Streit, is expected to be reelected to the board based on preliminary voting results from its annual meeting, the company announced Monday.
May 23 -
One of the country's largest online lenders is cutting jobs and shelving expansion plans in response to investors' rapid retreat from the beleaguered sector.
May 20 -
Users of the Walmart MoneyCard, issued by Green Dot, took to social media Wednesday to complain about problems they've encountered checking balances and accessing funds. The problems come at inopportune time for Green Dot.
May 19 -
Users of the Walmart MoneyCard, issued by Green Dot, took to social media Wednesday to complain about problems they've encountered checking balances and accessing funds. The problems come at an inopportune time for Green Dot.
May 18 -
Synchrony Financial, the credit card lender that was recently spun off from General Electric, is considering an expansion into small-business lending.
May 17 -
Following the scandal-tinged departure of CEO Renaud Laplanche, the company is contemplating drastic steps to restore the confidence of loan buyers. Scenarios that would have been far-fetched a short time ago such as diluting shareholders and funding loans off its own balance sheet are now under consideration.
May 17 -
Steve Streit founded the nation's largest prepaid card issuer and took it public during a long tenure as CEO. Now he's locked in a nasty fight to keep his job and defend his reputation.
May 13
