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 Office of the Comptroller of the Currency is seeking nearly $19 million from David Julian, Claudia Russ Anderson and Paul McLinko. The trial before an administrative judge is scheduled to begin in South Dakota on Sept. 13.
September 1 -
The COVID-19 pandemic has exacerbated income inequality in America, and that has implications for banks and other lenders. Among those suffering most: renters, front-line workers and minority small-business owners.
August 23 -
In the short term, the Biden administration is asking the industry to help previously unbanked households access their funds. Longer term, some banks see a real opportunity in advising their customers on what to do with the large cash influx.
August 8 -
Consumers who had paid down balances during the pandemic started spending more, while issuers made additional credit available, according to researchers at the Federal Reserve Bank of New York. The findings suggest the start of a return to more normal borrowing patterns in the card industry.
August 3 -
A 2017 investigation into the fake-accounts scandal — conducted by the board of directors with a major assist from the law firm Shearman & Sterling — was billed as independent and objective. Was it?
June 21 -
Sarah Dahlgren, who joined the scandal-plagued company in 2018, is departing of her own accord, according to a spokesman.
May 26 -
Events that unfolded in Minneapolis a year ago ultimately led to debt relief for Black farmers, bigger investments in Black banks, greater support for public banking, and more.
May 25 -
The top executives at Bank of America, Citigroup and Wells Fargo all received less compensation during a year shaped by the pandemic, while several regional bank CEOs got large pay hikes.
May 19 -
The deal should allow the prepaid card issuer to expand its footprint in a business it entered seven years ago.
May 14 -
By becoming a bank, the digital-only challenger zigged when other fintechs zagged. Some of the short-term consequences of that decision — including heavy regulatory costs — are becoming clearer, but CEO Colin Walsh says the company is sticking with its long-term growth strategy.
May 14
