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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Top executives at Advance America acknowledged that anti-money-laundering concerns at banks were likely the cause of account terminations, even as they publicly blamed a stealth regulatory campaign.
November 12 -
Payday lenders argue that banks cut ties with their industry due to pressure from biased and hostile regulators. But the reality, in some cases, may be more nuanced.
November 8 -
After the retail giant filed an $800 million lawsuit against its former credit card partner, shares in Synchrony plunged. Now analysts fear its relationship with Sam’s Club may be in jeopardy.
November 7 -
The San Francisco company, which has racked up big losses over the last two and a half years, signaled Tuesday that it is on a path to profitability after resolving a series of longstanding regulatory problems.
November 6 -
JPMorgan Chase and Wells Fargo detailed aggressive marketing plans, defended their credit judgments and downplayed the threat of a retailer revolt over high fees on rewards cards.
November 6 -
The Atlanta-based consumer lender, which partners with both retailers and banks, cited a higher-than-expected cost of funds as one reason for its less rosy forecast.
November 6 -
The New York-based online lender plans to spend an additional $15 million next year, largely on bank partnerships and international expansion.
November 6 -
After the retail giant filed an $800 million lawsuit against its former credit card partner, shares in Synchrony plunged. Now analysts fear its relationship with Sam’s Club may be in jeopardy.
November 2 -
A multimillion-dollar deal between Chicago Mayor Rahm Emanuel and Stephen Calk was supposed to deliver 400 new jobs to the city. Here’s what really happened.
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In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality.
October 30
