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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A challenge to the SEC's use of administrative law judges could have big implications for bank regulators. The FDIC, Fed, OCC and CFPB could be forced to go to federal court in cases that would otherwise be handled in-house.
By Kevin WackJuly 5 -
Cullen/Frost, Columbia, Synovus, Valley National and Associated all have relatively large exposures to the office sector, which has been hurt by the popularity of remote work. Their executives point to factors that offer protection, including the geographic composition of their portfolios and the types of buildings that serve as collateral.
By Kevin WackJune 27 -
The FDIC gave Cadence Bank in Mississippi the highest possible rating on its most recent Community Reinvestment Act evaluation. Cadence was the product of a 2021 merger completed just months after the acquired bank settled a federal lending discrimination case.
By Kevin WackJune 8 -
Both loan demand and credit availability have contracted sharply, according to senior executives at several of the nation's largest banks. Their comments came against the specter of a potential recession.
June 4 -
More than 140 current and former lawmakers are defending the constitutionality of the agency's funding arrangements. The nation's highest court is expected to rule on the issue in its upcoming term.
By Kevin WackMay 15 -
Silicon Valley Bank's failure in early March kicked off a period of turmoil unlike anything the U.S. banking industry has been through since 2008 and 2009. Here's a look back at the key events.
By Kevin WackMay 14 -
First Republic Bank was shuttered by regulators early Monday, and all its deposits and most of its assets were acquired by JPMorgan. San Francisco-based First Republic was undone by low-rate mortgages it made to its wealthy customers as well as by the fallout from last month's banking crisis.
By Polo RochaMay 1 -
William Demchak of PNC, Brian Moynihan of Bank of America and William Rogers of Truist had their total compensation reduced last year, as stock prices across the industry fell. The previous year, pay for bank chief executives had soared by more than 20%.
April 13 -
After several years when the scandal-plagued bank was focused on cost cutting, CEO Charlie Scharf indicated Tuesday that the company has opportunities to expand revenue across every line of business.
By Kevin WackDecember 6 -
The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.
By Kevin WackSeptember 16