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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A federal judge has overturned a New York City law that would have required banks to make new disclosures regarding their investments in local communities.
August 10 -
The New York Bankers Association is challenging the legality of a local law that is designed to cajole banks into making larger investments in poorer communities. The outcome could be an important precedent in relation to similar laws in other cities.
August 6 -
In the worst-case scenario, they'll get state licenses and reprice a portion of their loans, but executives of the highflying industry say they doubt such steps will be necessary.
August 5 -
Lending Club reported a small quarterly loss on Tuesday as the marketplace lender stuck with its strategy of pursuing growth rather than near-term profitability.
August 4 -
Heavier second-quarter marketing expenses at OnDeck Capital highlight a concern throughout the marketplace lending industry: the high cost of customer acquisition as competition from banks and nonbank startups heats up.
August 4 -
Some 12 million Americans buy used cars through informal channels each year and Lending Club says those consumers are underserved by traditional auto lenders.
August 4 -
The small-business lender's shift 18 months ago to a marketplace player that sells loans to investors paid off handsomely in the second quarter.
August 3 -
An estimated 12 million Americans buy used cars through informal channels each year. Those consumers are underserved by traditional auto lenders, says Lending Club Chief Executive Renaud Laplanche.
August 3 -
Marlin Business Bank has launched a new site to compete with alternative lenders such as OnDeck and Kabbage, which specialize in providing quick and convenient access to small-business credit.
July 31 -
AssetAvenue, a marketplace lender that specializes in commercial real estate finance, announced that it has hired Peter Coleman as its chief financial officer.
July 31
