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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No reason was given for his exit by the Silicon Valley lender, which named another prominent economist, Susan Athey of Stanford, to its board of directors.
March 28 -
Two Democrats on the House Oversight Committee asked the panel's Republican chairman to issue a subpoena for documents related to Stephen Calk, whose bank made loans to former Trump campaign manager Paul Manafort.
March 28 -
The San Francisco-based online lender reported a net loss of $115 million for 2017, more than half of which was connected to warrants issued in a deal that stabilized the struggling firm.
March 26 -
Attorney General Jeff Sessions made headlines in January when he tightened federal marijuana enforcement. But the good news for financial institutions looking to service the pot industry is that the rest of the government has responded with a shrug.
March 23 -
The new law, which is modeled on a similar effort in the United Kingdom, aims to lure financial firms to the desert. It has drawn support from business organizations but opposition from consumer groups — a dynamic that is likely to be replayed in other states.
March 22 -
Fifth Third and First Republic are among the investors in the company’s $50 million equity round.
March 21 -
The legislation, signed Monday by Gov. Rick Scott, authorizes 60- to 90-day loans of up to $1,000. It makes Florida the first state to pass a law designed to blunt the impact of the CFPB’s payday lending rule.
March 19 -
The agency's decision to lift a 2002 consent order against Ace Cash Express could lead to a revival of partnerships between national banks and payday lenders.
March 19 -
The e-commerce giant is muscling its way into a number of businesses that banks have long dominated.
March 18 -
CEO Tim Sloan was paid $17.4 million, though he was denied a cash bonus, as the San Francisco bank continued to contend with scandal fallout.
March 14
