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 Stamford, Conn.-based company reported 9% growth in net interest income and 14% growth in loan receivables during the third quarter, attributing the improvements to addition of the PayPal Credit portfolio in early July.
October 19 -
A shifting C&I landscape, heated competition for deposits and red flags in consumer lending also took center stage in often testy exchanges between bankers and analysts on quarterly earnings calls.
October 18 -
Customer furor stemmed from troubles FIS had processing payments for MetaBank, the issuer of Netspend and other prepaid debit cards.
October 17 -
Neither the prepaid issuer nor its bank partner can say when cardholders — many living paycheck to paycheck — will receive their funds.
October 16 -
The San Antonio bank will refer customers seeking small-business loans to StreetShares, a financial startup that is similarly focused on serving veterans of the U.S. military.
October 16 -
ODX will pursue deals with banks that want to use the New York lender’s technology to offer online small-business loans.
October 16 -
Barred by regulators from adding assets for at least another six months, the bank has only one main lever to pull to boost returns.
October 12 -
The two megabanks face different problems, as Bank of America customers are frustrated over fees and customer service while Wells customers are alarmed about the bank's recent scandals.
October 10 -
CIT Bank and Simple recently started offering higher yields on the condition that customers make regular contributions to savings. The offers are designed to help the banks avoid rate wars, but some analysts question whether they will appeal to enough consumers.
October 10 -
Rising wages and savings rates resulted in a decline in past-due payments in the second quarter, the American Bankers Association said in its quarterly report on delinquency trends in consumer lending.
October 4
