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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Any decline in home equity balances could be offset by higher demand for other types of consumer loans. The worry is that only borrowers with blemished credit will take out home equity loans, increasing the risk for banks and credit unions.
January 2 -
Any decline in home equity balances could be offset by higher demand for other types of consumer loans. The worry is that only borrowers with blemished credit will take out home equity loans, increasing banks’ risk.
December 26 -
Both in dollar and transaction volume, credit card use is growing at a faster pace than debit use, but one industry group predicts that overall credit union lending could decline in 2018
December 26 -
Some were sold at discounted prices, while others were shut down by their acquirers or quietly ceased doing business.
December 25 -
Both in dollar and transaction volume, credit card use is growing at a faster pace than debit use. Much of the growth is coming from affluent consumers who value rewards like 2% cash back on purchases.
December 22 -
Earlier versions of the bill would have caused bigger changes in how Americans finance home purchases, higher education and retirement. Still, the final legislation will have important effects on borrowing and saving decisions.
December 21 -
The executive tasked with reshaping Wells Fargo's embattled retail banking unit will now also be responsible for mortgage, auto and student lending.
December 18 -
The Silicon Valley payment processor is firing back at critics who say its bid for a bank charter would open the door to similar gambits by tech giants. Community activists, meanwhile, seem to be coming around to the idea of Square opening a bank.
December 15 -
A measure passed by the city council, which still needs final approval, would require banks that want city contracts to disclose whether they set individual or branch-level sales requirements. It comes in response to the Wells Fargo fake account scandal.
December 14 -
Grupo Coppel and Insikt, an online lender, would appear to be cut from different cloth, but they share an expertise in providing credit to working-class, largely Hispanic consumers. The retail conglomerate also operates 1,000 bank branches in Mexico, mixing banking and commerce in a way that U.S. regulators have not allowed.
December 13
