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 OCC has terminated a 22-month-old consent order that stemmed from allegations that the bank unlawfully repossessed cars of members of the U.S. military.
July 24 -
The creation of the Consumer Financial Protection Bureau was widely expected to centralize regulation of payday and other high-cost loans in Washington. It hasn’t worked out that way.
July 24 -
Credit card and auto loans grew again in the second quarter at the McLean, Va., company, and the net charge-off rates of both business lines fell, too.
July 19 -
The bank had numerous warnings that there could be severe regulatory consequences related to deceptively advertised add-on products. It is paying the price for failing to do more in response.
July 19 -
The Fort Worth, Texas, company will be competing in a segment of the U.S. card market that has grown more competitive in the last few years.
July 19 -
The recent decision involved sales taxes, but Wells Fargo recorded a net expense of $481 million under the assumption that it will also lead to higher state income taxes. Other banks may have to follow suit.
July 18 -
The New York-based online lender is turning to two European banks to fund loan growth in its overseas markets.
July 18 -
The appointment of David Solomon, who will take over for retiring CEO Lloyd Blankfein, has not altered the bank's aggressive plan to build a mobile phone-based bank for consumers in the U.S. and beyond.
July 17 -
The unit’s profits plunged in the second quarter as the company contended with the fallout from overcharging wealth management clients. Was it a one-off or the beginning of a long-term problem?
July 13 -
The Senate bill, designed to close a loophole in the state's interest rate cap and was closley monitored by the Ohio Credit Union League, must still be reconciled with a similar measure that was passed by the Ohio House of Representatives.
July 11
