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 Senate bill, designed to close a loophole in the state's interest rate cap, must still be reconciled with a similar measure that was passed by the Ohio House of Representatives.
By Kevin WackJuly 10 -
Mayor Eric Garcetti signed an ordinance Monday that establishes new requirements for banks that want to do business with the city. The rules are thought to be the first of their kind nationally.
By Kevin WackJuly 10 -
A new court filing suggests that Stephen Calk was named to a 13-member economic advisory team in 2016 in exchange for approving a $9.5 million loan to former campaign manager Paul Manafort.
By Kevin WackJuly 6 -
A first-in-the-nation ordinance, passed by the city council in the wake of the Wells Fargo scandal, would require banks that want the city’s business to reveal if they have sales quotas for employees. It remains to be seen, though, whether Mayor Eric Garcetti will sign the measure into law.
By Kevin WackJuly 3 -
Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties.
By Kevin WackJune 27 -
A ballot initiative that taps into the public's anger about online data abuses has qualified for the November ballot. But lawmakers are considering whether to head off the statewide vote by passing a measure that may be more amenable to the financial industry.
By Kevin WackJune 26 -
American Express prevailed Monday in an eight-year antitrust battle with the government. Here’s a look at how other card networks, banks, retailers and consumers will be affected.
By Kevin WackJune 25 -
The trend may be partly attributable to a strong economy. Growth in high-cost installment lending could also be a factor.
By Kevin WackJune 22 -
At a time when credit unions have seen a major increase in fee income from overdrafts, several big banks are following Silicon Valley's lead by offering new fee-free accounts.
By Kevin WackJune 22 -
JPMorgan Chase and Wells Fargo are following Silicon Valley's lead by offering new fee-free accounts. While there are risks involved, the cost of doing nothing would be significant, analysts said.
By Kevin WackJune 19