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.
-
Can banks outdo online lending startups in head-to-head competition? We're about to find out. Goldman Sachs, Wells Fargo and Quicken have all entered the digital lending business, putting early entrants on the defensive.
October 30 -
A Washington, D.C.-based startup that finances higher education in the U.S. for international students announced a $6 million equity funding round.
October 27 -
One of the nation's biggest prepaid card companies said that it expects to lose 10% to 12% of its current revenue as a result of new federal rules governing the industry.
October 27 -
One of the nation's biggest prepaid card issuers said that it expects to lose 10% to 12% of its current revenue as a result of new federal rules governing the industry.
October 26 -
Ally Financial, one of the nation's largest automobile lenders, saw profits fall during the third quarter as more motorists fell behind on their car payments.
October 26 -
Credit losses rose substantially at Discover Financial Services during the third quarter, but the Riverwoods, Ill.-based card issuer still managed to report bigger profits.
October 25 -
The online lender is entering the car-loan market at a time when some banks are scaling back and regulators are sounding the alarm about deteriorating underwriting standards.
October 25 -
Bizfi, a New York-based online small-business finance company, announced the hiring of John Donovan as its new chief executive officer.
October 24 -
Strong loan growth sparked higher third-quarter earnings at Synchrony Financial, the credit-card issuer that was spun off from General Electric.
October 21 -
Strong loan growth sparked higher third-quarter earnings at Synchrony Financial, the credit-card issuer that was spun off from General Electric.
October 21
