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 credit card issuer has hired John T. Greene, a former pharmaceutical industry executive, to succeed Mark Graf, who announced his retirement over the summer.
September 13 -
The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.
September 12 -
The company still intends to shut down its data centers next year even as the recent hacking that exposed the data of some 100 million people raised questions about its aggressive embrace of cloud computing.
September 10 -
For the third time in five months, the San Francisco bank made a downward revision Monday to its guidance on net interest income. An executive cited the impact of lower interest rates.
September 9 -
A legislative measure would have made the Golden State the first in the nation where aggrieved borrowers could sue their servicers. The bill was delayed until 2020 after banks and other financial companies expressed opposition.
September 6 -
The acquisition of Radius Intelligence fits with the online lender's existing focus on small commercial borrowers.
September 3 -
Community banks and tech companies that are happy the central bank is building a next-generation system are not as pleased with its four- to five-year timeline. But big banks see the slow rollout as an opportunity to expand their own instant payment network.
August 29 -
Following an article by American Banker and ProPublica that detailed how political appointees weakened the penalties paid by two large banks, the Massachusetts senator is demanding more information from the Justice Department.
August 20 -
Under a state proposal, annual percentage rates would have to be disclosed on nonbank commercial loans of $500,000 or less. Lenders' responses have been mixed depending on their business model.
August 18 -
Kenneth Montgomery, a top executive at the Federal Reserve Bank of Boston, will head the push to make faster payments available across the industry in the next four to five years.
August 15
