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 new law, which is modeled on a similar effort in the United Kingdom, aims to lure financial firms to the desert. It has drawn support from business organizations but opposition from consumer groups — a dynamic that is likely to be replayed in other states.
March 22 -
Fifth Third and First Republic are among the investors in the company’s $50 million equity round.
March 21 -
The legislation, signed Monday by Gov. Rick Scott, authorizes 60- to 90-day loans of up to $1,000. It makes Florida the first state to pass a law designed to blunt the impact of the CFPB’s payday lending rule.
March 19 -
The agency's decision to lift a 2002 consent order against Ace Cash Express could lead to a revival of partnerships between national banks and payday lenders.
March 19 -
The e-commerce giant is muscling its way into a number of businesses that banks have long dominated.
March 18 -
CEO Tim Sloan was paid $17.4 million, though he was denied a cash bonus, as the San Francisco bank continued to contend with scandal fallout.
March 14 -
The online lender is hiring Kenneth Brause, a CIT Group executive, to succeed CFO Howard Katzenberg.
March 13 -
The legislature has passed a bill that would allow lenders to make installment loans that, in many cases, would be more costly than payment loans. If Gov. Rick Scott signs it, Florida would become the first state to pass a law designed to blunt the impact of the CFPB’s crackdown on high-cost consumer loans.
March 9 -
The top examiner of Wells Fargo at the Office of the Comptroller of the Currency improperly revealed to the San Francisco bank the existence of a government investigation, according to the Treasury's inspector general.
March 9 -
Deposit prices are starting to rise, deposit growth is slowing, commercial loan growth remains tepid (with some exceptions) and concerns are mounting about the economic toll of U.S. trade policy, bank executives said just a few weeks ahead of the end of the quarter.
March 6
