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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Orchard Platform, which provides services to institutional investors in the marketplace lending industry, has raised $30 million in additional funding.
September 10 -
The consumer agency, which recently reached a large settlement with JPMorgan Chase over collections practices, turned its focus Wednesday to the country's two largest debt buyers.
September 9 -
The Consumer Financial Protection Bureau imposed up to $79 million in penalties and refunds Wednesday in enforcement actions against the country's two largest debt buyers.
September 9 -
Americans had 314 million credit card accounts during the first three months of the year, the highest number since the fourth quarter of 2008, according to a report released Wednesday.
September 9 -
The marketplace lender CommonBond announced that it has raised $35 million, which it plans to use to expand its operations across the country.
September 8 -
Prestige Financial Services, which focuses on car buyers who are in the bankruptcy process, is trying to keep pace in a fast-growing market.
September 8 -
The San Francisco company hopes to lower its costs by driving out human intervention as much as possible. To get there, it has made the counterintuitive decision to locate its operations staff in one of the countrys most expensive cities.
September 3 -
Ally Financial surpassed Wells Fargo during the second quarter to regain its perch as the nation's largest auto lender, according to Experian Automotive.
August 27 -
In a rapidly growing market outside the purview of the Truth in Lending Act or state usury caps, online lenders' rates and fees can be next to impossible to compare.
August 26 -
Stock fluctuations will fuel investment banking fees in the short run, but a prolonged shock would complicate bank M&A and could tighten margins, crimp wealth management fees and present other risks.
August 24
