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 CEO of a big-bank lobbying group recently said that the central bank may be on the verge of pulling a bait and switch on faster payments. But his comments glossed over a lot of the relevant history.
July 24 -
While loan growth continues to outpace competitors, Discover says it has been tightening its standards, given the late stage of the credit cycle.
July 23 -
The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending.
July 22 -
After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.
July 19 -
The credit card issuer reported expense growth that rose faster than net interest income during the second quarter.
July 18 -
In a registration statement filed with the SEC, the company revealed new details about its financial performance and its growth plans.
July 18 -
The company, which announced the conclusion of a three-year-old credit card partnership with TD Bank, is shifting to digital financing of individual consumer purchases.
July 18 -
The company revealed its pretax losses for its forays into consumer and other digital banking services, which began in 2016 with the launch of a consumer deposit franchise and an installment loan product.
July 16 -
Shares in the U.K.-based small-business lender fell 29% Tuesday after it sought to recalibrate expectations about its growth trajectory. So far, the company has pulled back lending more in the U.S. than in its other markets.
July 2 -
The ban, which came to light Monday, will remain in effect until either the final disposition of Stephen Calk’s court case or until it is terminated by Comptroller Joseph Otting.
July 1
