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.
-
The online small-business lender is enjoying a payoff from its year-old push to cut costs and tighten underwriting standards. It is also set to announce another lending agreement with a major bank this year, its CEO said Tuesday.
February 13 -
The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.
January 30 -
David Nelms said that many digital lenders do not understand how to underwrite personal loans properly, and he took a dig at their lack of profitability. The upstarts say their industry's ability to attract capital speaks for itself.
January 25 -
StreetShares seeks to tap into the loyalties of military veterans, bringing together borrowers and savers through an online platform.
January 24 -
Stepping in after co-founder Mike Cagney's resignation, Twitter's Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.
January 23 -
The milestone marks the end of a seven-year-long recovery in the credit card market that followed the Great Recession.
January 8 -
Intrust Bank has agreed to purchase $20 million worth of Funding Circle's small-business loans in what could just be the beginning of a long-term relationship.
January 4 -
Merchants have been challenging surcharge bans in numerous states on free-speech grounds. They have the wind at their backs following another court victory on Wednesday.
January 3 -
Some were sold at discounted prices, while others were shut down by their acquirers or quietly ceased doing business.
December 25 -
Both in dollar and transaction volume, credit card use is growing at a faster pace than debit use. Much of the growth is coming from affluent consumers who value rewards like 2% cash back on purchases.
December 22
