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 online consumer lender trimmed its losses in the fourth quarter and says an adjusted, non-GAAP metric suggests it's on the path to getting out of the red later this year.
February 19 -
The enforcement action from the OCC comes on the heels of a CFPB consent order that said USAA reopened customers' accounts without consent and neglected stop-payment requests.
February 15 -
They all agree that legislation is needed, but the two approaches being offered are exposing tensions.
February 14 -
New research from the New York Fed found that banks with more than $50 billion of assets originate more subprime car loans than small banks and credit unions do.
February 12 -
The installment lender, which bills itself as an alternative to payday lenders, targets underserved communities and operates through a network of retail partners.
February 12 -
The stars aligned for the two longtime rivals to join forces, and some observers speculate that other regional banks will need to strike similar partnerships if they hope to remain competitive. But others say such deals are rare because they're hard to pull off.
February 7 -
A former audit executive at Citi and Amex, Julie Scammahorn is replacing David Julian, who remains on administrative leave. She will join the bank in April.
February 6 -
The Feb. 13 hearing marks a turning point in long-running efforts in Washington to ease banks and credit unions' fears about serving the cannabis industry.
February 6 -
The Feb. 13 hearing marks a turning point in long-running efforts in Washington to ease bankers' fears about serving the cannabis industry.
February 6 -
Though banks are generating more revenue from interchange and annual fees, those gains have been offset by declines in income from cash advances and late fees.
February 5
