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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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 -
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
