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 online lender posted a profit for the sixth consecutive quarter, as higher margins helped offset a decline in loan originations.
October 24 -
It has already been modifying more problem loans and investing in efforts to recover charged-off loans, and now the credit card lender is ready to tighten underwriting in case the economy weakens.
October 23 -
The credit card lender responded to the closing of Toys R Us stores last year by issuing Synchrony-branded cards to the retailer's customers. Now it's testing a general-purpose card with a wider array of clients.
October 21 -
Customers of the New Jersey bank will be able to complete applications in minutes and receive funding in as little as one business day.
October 20 -
The legislation, sponsored by Rep. Cindy Axne of Iowa, aims to hold public companies accountable for moving jobs overseas. It won unanimous support from House Democrats but attracted only two votes from Republicans.
October 18 -
Gordon Sondland, the U.S. ambassador to the European Union, is often described as a hotelier from the Pacific Northwest. But he has also had a long and sometimes controversial career in finance.
October 18 -
The retailer and credit card giant are rolling out two new card offerings. The move could hit especially close to home for CUs with branches inside Walmart locations.
October 18 -
While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike.
October 16 -
Perhaps the biggest test that Charles Scharf will face when he starts next week will be how to control expenses while still trying to make the necessary investments in risk management to satisfy regulators.
October 15 -
A law signed last week by Democratic Gov. Gavin Newsom caps interest rates on installment loans. But three large lenders are looking to avoid its restrictions by partnering with banks.
October 15
