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 latest compensation-related punishments were announced Monday in a long-awaited report from the firm’s board of directors.
April 10 -
Elevate Credit in Fort Worth, Texas, debuted Thursday at half the price the company had been targeting. Investors may have been spooked by the possibility of rising losses.
April 6 -
Upgrade, an online lender started by former Lending Club CEO Renaud Laplanche, will tout credit monitoring and education features to stand out in a crowded field.
April 6 -
New data from the American Bankers Association is the latest warning sign for the sector.
April 6 -
Digital lenders have been partnering with banks to get around state-by-state usury caps, but that approach is facing tougher scrutiny.
April 5 -
The Newport Beach, Calif.-based company uses artificial intelligence to help lenders make better decisions about borrowers’ creditworthiness.
April 4 -
The prepaid card issuer was accused of deceiving customers in ads claiming that getting approved was easy, and funds would be available right away.
April 3 -
The payments giant has made a lot of money issuing loans to online shoppers with blemished credit histories. But now it is looking to reduce its risks.
March 31 -
Low scores make it harder for banks to get regulatory OKs to expand, but Wells is in retrenchment mode anyway.
March 29 -
With a "needs to improve" rating, Wells Fargo is now subject to a wide range of regulatory restrictions on things like branch openings and M&A.
March 28
