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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David Nelms said that many digital lenders do not understand how to underwrite personal loans properly, and he took a dig at their lack of profitability. The upstarts say their industry's ability to attract capital speaks for itself.
January 25 -
The credit card lender said late payments increased during the quarter but that it expects them to level off in 2018.
January 24 -
StreetShares seeks to tap into the loyalties of military veterans, bringing together borrowers and savers through an online platform.
January 24 -
Consumer lending was a bright spot, but a series of one-time charges, capped by a writedown on its deferred tax assets, led to a nearly $1 billion loss.
January 23 -
Stepping in after co-founder Mike Cagney's resignation, Twitter's Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.
January 23 -
As customers become more tech-savvy, the bank said it no longer needs to prod them to use its digital products by offering discounts. Account holders can avoid fees by enrolling in direct deposit.
January 22 -
The Stamford, Conn.-based credit card issuer saw improvement in late payments by its customers, but the pace of loan growth also slowed during the fourth quarter.
January 19 -
Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.
January 18 -
The San Francisco bank said that Michael Loughlin's departure is unrelated to the sales scandal that has dogged the company for the last 16 months.
January 17 -
The New York bank has begun marketing Marcus loans as a way to pay for home improvements, while also raising the maximum loan size to $40,000.
January 16
