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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Gorman is stepping down as the bank's chairman at the end of the year. Here's a look at how he rebuilt Morgan Stanley with a focus on wealth management.
October 28 -
The credit card heavyweight said that it expects its acquisition of rival Discover will close in early 2025, pending the approval of shareholders and regulators.
October 24 -
The investment banking giant is selling its General Motors credit card portfolio to Barclays, which is looking to grow and diversify its U.S. cards business. It's part of Goldman's retreat from consumer banking.
October 15 -
The legendary investor has been reducing his 13-year-old stake in BofA. It's the most recent instance of Buffett profiting from a big bet on a troubled financial institution.
October 9 -
Honolulu-based Territorial Bancorp is delaying the approval vote by about four weeks in order to continue discussions with its shareholders. A group that includes a former Bank of Hawaii CEO is trying to scuttle the $78 million deal with Los Angeles-based Hope Bancorp.
October 4 -
Regulators have never held a hearing on whether to revoke the charter of a bank convicted of a money-laundering-related violation. As TD Bank nears a "global resolution" in connection with its compliance failures, it's unlikely to buck the trend.
October 4 -
A Democratic-backed bill that represents the most sweeping response yet to the problem of gambling addiction would ban the use of credit cards in sports gambling.
September 25 -
After Republican presidential nominee Donald Trump said he intends to place a temporary cap on credit card interest rates, many felt the plan would create a large constriction of credit.
September 20 -
As the 68-year-old CEO focuses on succession planning, here's a look at some of the longtime JPMorgan executives who could succeed him.
September 17 -
The Canadian bank said it expects to recover hundreds of millions of dollars after a three-judge appeals panel found that it cannot be held liable in connection with a multibillion-dollar fraud. The ruling echoed a different appeals court's decision stemming from the collapse of Bernard Madoff's Ponzi scheme.
September 13
