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.
-
The San Francisco company is one of numerous online lenders that are struggling to become profitable.
November 13 -
Consumers who have borrowed from online lenders owe more and have lower credit scores than similarly situated consumers who have not used online lenders, according to a study released Thursday by the Cleveland Fed. The provocative findings seem likely to spark intense debate.
November 10 -
The San Francisco firm is the latest U.S. lender to tighten credit standards amid concerns that consumers are shouldering too much debt.
November 8 -
Bill Donnelly was named the first-ever finance chief at San Francisco-based LendUp.
November 7 -
Amid the rise of online lending earlier this decade, banks were derided as being too slow to adapt. But over time it's become clear that banks hold key advantages over lending startups.
November 6 -
The online small-business lender, which has been cutting expenses, said it is on track to achieve profitability in the fourth quarter.
November 6 -
GS Bank will take the name of Goldman's nascent consumer-lending business, Marcus.
November 3 -
Text analysis holds the promise of improving lenders’ ability to evaluate which borrowers will repay, but it also carries substantial risks.
October 31 -
It's been a decent year for banks, especially given the industry's return on assets hit a 10-year high. But there are signs it might not last. With Halloween near, here is a look at some potentially frightening developments that could keep bankers up at night.
October 29 -
The hurricanes destroyed hundreds of thousands of cars, and banks are significantly boosting their reserves in anticipation of higher defaults on auto loans. But there is also a silver lining for auto lenders.
October 25
