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 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 -
The percentage of consumers who are past due on home equity loans, RV and other personal loans also rose in the third quarter, data released by the American Bankers Association showed.
January 14 -
Stephen Calk and the bank where he formerly served as CEO are both arguing that his bribery trial should be held in Illinois. Prosecutors oppose the move.
January 13 -
Can Charlie Scharf fix what ails Wells Fargo? How will Kelly King and Bill Rogers manage the integration of the biggest bank merger since the early 2000s? And will New Jersey Gov. Phil Murphy be able to beat back opposition from the banking industry and make good on his promise to create a state-owned bank? Here are 11 leaders to keep an eye on in 2020.
January 12 -
New legislation in Congress seeks to do away with a data-collection mandate that addressed discrimination in business lending. The repeal measure has the support of two bank industry groups based in Washington.
January 10 -
Though many merchants remain wary of alienating their customers with fees, others now see an opportunity to recoup the growing costs associated with accepting plastic.
January 9 -
In trying to adapt and survive in an increasingly tech-dominated world, banks may unintentionally give up their most valuable commodity — their relationship with the consumer, and the data that comes with it.
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Several former high-level Wells Fargo executives are under criminal investigation in connection with the bank's fake-accounts scandal and could be indicted as soon as this month.
January 3 -
Steve Streit, who founded the prepaid card pioneer Green Dot and spent two decades as its chief executive, has announced plans to retire as part of a shakeup at the top of the company.
December 19 -
Steve Streit is retiring as part of a shakeup in the firm's management ranks. The Pasadena, Calif.-based company that he founded in 1999 has been suffering amid new competition from challenger banks.
December 19
