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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Steve Allocca is expected to play a key role in the online lender’s efforts to restart loan growth.
May 16 -
The Silicon Valley lender that caters to affluent millennials has ambitions to become a one-stop shopping destination for financial services.
May 16 -
The deposit insurer has stayed out of the debate over how to regulate the online lending industry. But that may be about to change.
May 15 -
Executives at the embattled bank made clear Thursday that they are not discarding its long-standing strategy of selling additional products to existing customers.
May 11 -
Noah Breslow, who drew opposition from a hedge fund that wants the online small-business lender to pursue a new course, won 84% of the vote Tuesday.
May 10 -
The Pasadena, Calif., firm also reported growth in the number of active prepaid cards for the first time since the second quarter of 2015. Profits rose by 24%.
May 9 -
Once focused mainly on growth, the New York-based small-business lender said it will lay off employees and cut other expenses in an effort to become profitable. The moves are a sign of waning patience among investors in the once-frothy sector.
May 8 -
Gov. Mary Fallin, a Republican, sided with consumer advocates over payday lenders in a fight that is playing out in numerous states.
May 5 -
The online consumer lender has struggled to bounce back from a scandal that turned its fortunes a year ago.
May 4 -
Despite a categorical denial this week by Wells Fargo CEO Tim Sloan, former employees like Yesenia Guitron say trawling for immigrants was routine.
May 4
