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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Credit-card industry executives always insist that they face strong competition. But the battle between the nation's largest card issuers appears to have intensified in recent months, and it shows no signs of waning.
September 21 -
Citi and Capital One are putting pressure on rivals such as Discover and American Express, while Wells Fargo is eyeing a bigger footprint in the business.
September 18 -
The Stamford, Conn.-based credit card issuer expects to be independent by the end of the year, and predicts that it will benefit from its separation from General Electric.
September 17 -
Fundera, which runs a website where small-business owners can shop for loans, has raised $11.5 million in new equity funding.
September 17 -
CircleBack Lending, a Boca Raton, Fla., marketplace lender, has completed a $17.4 million round of equity financing.
September 16 -
A small Internet-focused bank plans to offer Prosper Marketplace's personal loans directly to its own customers through the bank's website. Prosper could use it as a template for deals with other banks.
September 15 -
The rest of the credit card industry continues to be dogged by slow loan growth, but retail-branded cards are bouncing back, thanks largely to a big push by merchants.
September 14 -
PeerIQ, which provides data to firms that invest in marketplace loans, has raised $2.5 million in early-stage financing.
September 14 -
The rest of the credit card industry continues to be dogged by slow loan growth, but retail-branded cards are bouncing back, thanks largely to a big push by merchants.
September 14 -
Arthur Levitt, the chairman of the Securities and Exchange Commission from 1993 to 2001, will become an adviser to the marketplace lender Social Finance.
September 10
