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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Green Dot is giving its chief financial officer job to Mark Shifke, who has been the firm's acting CFO for the last seven months.
December 16 -
California regulators on Monday identified 14 companies that the state is targeting as part of its recently announced inquiry into the marketplace lending industry.
December 14 -
The first state inquiry into marketplace lending is seeking information from a broad mix of companies, including consumer lenders, small-business lenders, and firms that are not primarily in the lending business.
December 11 -
California officials have opened a broad inquiry into the marketplace lending business, seeking data from industry participants that will be used to assess the effectiveness of the state's current regulatory regime.
December 11 -
Reports that last weeks mass shooting in San Bernardino, Calif., may have been financed by a $28,500 loan from Prosper Marketplace have sparked a wave of scrutiny of online marketplace lending, where fraud rates are much higher than credit cards.
December 11 -
The Dec. 2 mass shooting has shone a light on the sector's vulnerability to borrowers who, exploiting the absence of face-to-face contact on the Internet, lie on their loan applications.
December 10 -
Washington Federal is the latest bank to partner with a tech company in an effort to streamline online loan applications.
December 9 -
Ex-banker Frank Rotman, now a venture capitalist who focuses on marketplace lending, has a unique vantage point on the competition for small-business loans between banks and Web-based upstarts, as well as on both sides' strengths and weaknesses.
December 8 -
Chief Executive Steve Streit said that the company's lower fee structure did not generate enough additional purchase volume to overcome the loss of revenue.
December 4 -
The price hike represents a significant shift in strategy for the company, which has frequently touted its pro-consumer bona fides.
December 3
