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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Documents filed in connection with a $586 million settlement reveal how certain agents for the global money transmitter enabled extensive fraud and money laundering.
By Kevin WackJanuary 20 -
Citizens Financial Group in Providence, R.I., reported bigger profits in the fourth quarter on the strength of loan growth and improvements in its loan yield.
By Kevin WackJanuary 20 -
The global money transmitter will pay $586 million and implement an anti-fraud program in order to resolve allegations that it enabled widespread misconduct by some of its employees.
By Kevin WackJanuary 19 -
BorrowersFirst said its new financing will come from Waterfall Asset Management, a New York firm that focuses on high-yield investments.
By Kevin WackJanuary 19 -
The embattled company's new incentive pay plan appears to resemble those used by other banks, which suggests that regulators are unlikely to demand big changes throughout the sector.
By Kevin WackJanuary 17 -
The San Francisco bank said Friday that it plans to close at least 400 branches over the next two years, part of an effort to reduce annual expenses by $2 billion.
By Kevin WackJanuary 13 -
Documents from Massachusetts complicate the narrative that marijuana businesses either can’t get bank accounts or are only being served by small institutions.
By Kevin WackJanuary 11 -
Even in the age of Watson, computers are still only as smart as the people who teach them.
By Kevin WackJanuary 9 -
The burden of paying off student loans is increasingly falling on parents and grandparents, and a new report from the CFPB finds that these older borrowers are having a tough time making payments.
By Kevin WackJanuary 6 -
American Express has prevailed in its latest round of legal sparring with the Justice Department.
By Kevin WackJanuary 6