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 global loan platforms present an extreme example of the ongoing clash between the fast-moving financial technology sphere and the staid world of financial regulation.
August 21 -
Tech investors love fast-growing marketplace lenders like Social Finance, but Wall Street has taken a dimmer view of them. A huge equity fundraising round should allow SoFi to keep fueling rapid growth while remaining privately owned.
August 20 -
The Chicago-based online consumer lender, which focuses on borrowers with less than pristine credit histories, is getting a boost from JPMorgan Chase, Credit Suisse and Jefferies.
August 20 -
The global loan platforms present an extreme example of the ongoing clash between the fast-moving financial technology sphere and the staid world of financial regulation.
August 19 -
Social Finance Inc. has hired Joanne Bradford, a veteran of the technology and media industries, as chief operating officer.
August 17 -
The Wall Street titan, having borne the costs of being a regulated bank for a number of years, is now looking to reap some of the benefits that come with a banking license.
August 14 -
Banks, marketplace lenders and other nonbank lenders were dealt a setback when a federal appeals court declined to reconsider a ruling that has set off alarm bells across the consumer finance industry.
August 13 -
Just 8% of U.S. mortgage origination volume in the second quarter went to borrowers with subprime credit scores, according to new research by the New York Fed. The findings suggest that mortgage standards have loosened only slightly, if at all.
August 13 -
C2FO, the operator of an online marketplace for small-business financing, announced a $40 million equity funding round led by a Singapore investment firm.
August 12 -
A New York law that was invalidated by a federal judge was one of many efforts by big cities to pressure banks into making more investments in local communities after the crisis. Some municipal laws could be more vulnerable to bankers' legal challenges than others.
August 10
