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 agency’s cases against David Julian, Claudia Russ Anderson and Paul McLinko, which allege culpability for the bank’s phony-accounts scandal, are scheduled to go to trial in September.
By Kevin WackApril 22 -
Surging used-car prices — brought on by a combination of strong consumer demand and limited new-vehicle supply — are boosting loan yields and profits at the Detroit company.
By Kevin WackApril 16 -
The Michigan lender agreed in 2012 to pay $133 million to resolve civil fraud charges tied to government-backed mortgages. But the deal with the Justice Department came with a catch that eventually allowed Flagstar to pay far less.
By Kevin WackApril 15 -
Business owners have shown little interest in taking on debt during the pandemic. Will their attitudes change as the economy improves?
By Kevin WackApril 14 -
The Silicon Valley payments giant collaborates with incumbent banks. But its plan to launch a single mobile app where consumers will shop, make payments and manage their money is reinforcing long-held industry fears about the threat from Big Tech.
By Kevin WackApril 8 -
The 9-0 ruling markedly diminishes the threat of lawsuits involving automated calls and text messages to consumers.
By Kevin WackApril 6 -
In an enforcement action that could have reverberations across the sector, the Fed imposed tough penalties on a pair of Wyoming bankers who took confidential information to their new employer.
By Kevin WackMarch 30 -
The banking and credit union industries opposed the Illinois Community Reinvestment Act, but they were largely shut out of a process that moved quickly amid a nationwide reckoning on racial inequality.
By Kevin WackMarch 30 -
Six years after unloading its bank unit, the tax preparation chain wants to diversify by launching a digital account targeting low- and moderate-income households. How will it differentiate itself from upstarts like Chime, Varo and Green Dot?
By Kevin WackMarch 26 -
Two banking bills signed by Gov. J.B. Pritzker carry implications for payday lenders, auto title lenders, credit unions and nonbank mortgage lenders. Pritzker, a Democrat, said the bills will address racial-equity gaps in the state.
By Kevin WackMarch 23