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 subprime auto lender failed to disclose that it received fees for referring borrowers to CarMax, the used-car dealer, according to California's financial regulator.
April 6 -
KPMG has been the bank's auditor since 1931. Critics say it's time for a change.
April 5 -
Late-payment rates at banks declined in nine out of the 11 consumer loan categories tracked by the American Bankers Association, including credit cards, auto loans and personal loans.
April 4 -
The central bank is taking a lead role in trying to combat the longstanding problem. A broad study by the Fed aims to measure the extent of payments fraud and to foster more collaboration in thwarting it.
April 3 -
The Atlanta company partners with banks and merchants to offer consumer installment loans. It could seek to raise as $1 billion as early as this summer, according to a published report.
April 2 -
U.S. banks lag the technology, telecommunications and energy sectors in what they pay employees, according to new data. The gap suggests that the industry may not be the acting aggressively enough to remake itself for the digital age.
March 30 -
No reason was given for his exit by the Silicon Valley lender, which named another prominent economist, Susan Athey of Stanford, to its board of directors.
March 28 -
Two Democrats on the House Oversight Committee asked the panel's Republican chairman to issue a subpoena for documents related to Stephen Calk, whose bank made loans to former Trump campaign manager Paul Manafort.
March 28 -
The San Francisco-based online lender reported a net loss of $115 million for 2017, more than half of which was connected to warrants issued in a deal that stabilized the struggling firm.
March 26 -
Attorney General Jeff Sessions made headlines in January when he tightened federal marijuana enforcement. But the good news for financial institutions looking to service the pot industry is that the rest of the government has responded with a shrug.
March 23
