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.
-
Mary Mack testified last week about the cultural problems she encountered after joining the bank's consumer unit in 2016. Recalling small group meetings she held with employees, she said: "People would stand up, and they were fearful."
November 1 -
The California bank sued a former executive for allegedly taking trade secrets and using them to build a rival fintech. A recent interim ruling frees Aeldra Financial to move ahead with fundraising while the case continues.
October 26 -
Democratic Gov. Gavin Newsom signed legislation that establishes a commission to analyze the possibility of offering federally insured, fee-free bank accounts.
October 6 -
The levy targets large financial institutions as a source of revenue. Industry groups argued that it discriminates against out-of-state banks, but the Washington Supreme Court disagreed.
October 3 -
Citizens Financial Group's acquisition of Investors Bancorp — one of the biggest banking combinations announced so far this year — may never have happened if the pandemic hadn't interrupted the seller's merger talks with another bank.
September 20 -
The Toronto-based bank will take over the account from Capital One, which is ending its deal with the membership-only retail chain.
September 2 -
The Office of the Comptroller of the Currency is seeking nearly $19 million from David Julian, Claudia Russ Anderson and Paul McLinko. The trial before an administrative judge is scheduled to begin in South Dakota on Sept. 13.
September 1 -
The COVID-19 pandemic has exacerbated income inequality in America, and that has implications for banks and other lenders. Among those suffering most: renters, front-line workers and minority small-business owners.
August 23 -
In the short term, the Biden administration is asking the industry to help previously unbanked households access their funds. Longer term, some banks see a real opportunity in advising their customers on what to do with the large cash influx.
August 8 -
Consumers who had paid down balances during the pandemic started spending more, while issuers made additional credit available, according to researchers at the Federal Reserve Bank of New York. The findings suggest the start of a return to more normal borrowing patterns in the card industry.
August 3
