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 San Francisco bank is moving two executives into new positions who will report to consumer banking head Mary Mack.
July 31 -
The online lender is counting on other arrangements with banks — and perhaps even a bank charter of its own — to help recover from the loss of a key partnership.
July 29 -
The decision is a blow to OnDeck, which said Monday that it intends to pursue a bank charter, either by applying for one or by buying a bank.
July 29 -
The CEO of a big-bank lobbying group recently said that the central bank may be on the verge of pulling a bait and switch on faster payments. But his comments glossed over a lot of the relevant history.
July 24 -
While loan growth continues to outpace competitors, Discover says it has been tightening its standards, given the late stage of the credit cycle.
July 23 -
The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending.
July 22 -
After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.
July 19 -
The credit card issuer reported expense growth that rose faster than net interest income during the second quarter.
July 18 -
In a registration statement filed with the SEC, the company revealed new details about its financial performance and its growth plans.
July 18 -
The company, which announced the conclusion of a three-year-old credit card partnership with TD Bank, is shifting to digital financing of individual consumer purchases.
July 18
