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 inquiry by securities regulators came in response to reporting that bank employees pushed products in ways that misled customers as they sought to meet their sales targets.
November 27 -
California's banking market, shaken up by big acquisitions and last year's crisis, is drawing financial institutions seeking opportunity.
November 13 -
Anthony Gressak III, who also served as interim CEO of Nano Banc, allegedly obtained pandemic relief funds fraudulently.
November 12 -
Daria Sewell pleaded not guilty to possessing customers' personally identifiable information. The case adds to the Canadian bank's anti-money-laundering woes.
November 8 -
Los Angeles-based Dave got sued Tuesday by the Federal Trade Commission. Its stock price briefly plunged before soaring in the wake of Donald Trump's election.
November 6 -
California's 47th Congressional district, which is being vacated by Rep. Katie Porter, D-Calif., after her unsuccessful bid for California's senate seat, is being sought by law professor and Democrat David Min, who has been an outspoken progressive on banking issues. Running against him is Republican Scott Baugh, who ran unsuccessfully against Porter in 2022.
November 5 -
The regulatory scrutiny involves online savings accounts that allegedly deceived consumers into believing they were receiving high rates.
October 31 -
Republic First Bank allegedly discriminated against minority borrowers before it went under in April. New Jersey officials want both the acquirer of its remains, Fulton Bank, and the FDIC to assume some responsibility.
October 31 -
The megabank disclosed that regulators are looking at its anti-money-laundering and sanctions compliance. Wells Fargo was recently hit with an enforcement action over similar matters.
October 30 -
The Dallas-based bank swung to a loss in the third quarter after reclassifying a large bundle of multifamily loans that it plans to offload under a recently announced strategy pivot.
October 29
