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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Critics of the OCC have long maintained that the agency was too close with the San Francisco bank. A watchdog's assessment of what transpired between 2009 and 2017 is expected to be completed late this spring.
January 28 -
The company best known for student lending expanded into personal lending less than two years ago. Now it says it is refocusing on core strategic priorities.
January 24 -
Documents released by the Office of the Comptroller of the Currency Thursday allege that senior leaders had reason to know that the wrongdoing was widespread but failed to act.
January 23 -
Former CEO John Stumpf agreed to pay a $17.5 million penalty while ex-community banking chief Carrie Tolstedt faces a potentially $25 million fine for sales-practices misconduct. Other former officials could face fines totaling $16 million.
January 23 -
Ally and other direct banks continue to report strong deposit growth even as they slash the rates they pay to depositors. The trend suggests that the online-only approach has more staying power than its detractors believed.
January 22 -
Federal legislation introduced this week by Rep. Gregory Meeks, D-N.Y., would ensure that taxi drivers don't get taxed on medallion debt that gets forgiven. The bill dovetails with a debt forgiveness plan under development in New York, where hundreds of drivers have filed for bankruptcy.
January 17 -
Federal legislation introduced this week by Rep. Gregory Meeks, D-N.Y., would ensure that taxi drivers don't get taxed on medallion debt that gets forgiven. The bill dovetails with a debt forgiveness plan under development in New York, where hundreds of drivers have filed for bankruptcy.
January 17 -
Fears that the New York banking giant’s consumer lending product could cut into a key credit union market appear to have been overblown.
January 17 -
The New York bank said Wednesday that its first-ever credit card has brought in nearly $2 billion of loans in less than six months.
January 15 -
The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal.
January 14
