Kevin Wack

Los Angeles

National Editor at American Banker

National Editor @AmerBanker; DM me for Signal or kevinwack at gmail dot com.

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Articles

Capital One CEO to get one-time award valued at $30 million

1 day ago | today.westlaw.com | Kevin Wack

Capital One Financial CEO Richard Fairbank will be rewarded in connection with a high-stakes bet that paid off — the company's 2024 deal to acquire Discover Financial Services. Fairbank is slated to receive a one-time award of Capital One stock that —...
Capital One CEO to get one-time award valued at $30 million

1 day ago | americanbanker.com | Kevin Wack

Capital One Financial CEO Richard Fairbank will be rewarded in connection with a high-stakes bet that paid off — the company's 2024 deal to acquire Discover Financial Services. Fairbank is slated to receive a one-time award of Capital One stock that — as of June 3, when it was granted — was worth about $30 million, the company disclosed Thursday.
Fast-growing bank resolves order over reliability of funding

4 days ago | americanbanker.com | Kevin Wack

A fast-growing bank that got hit with an enforcement action in connection with the staying power of its deposits has resolved the matter after building out a digital banking arm. Forbright Bank, which is headquartered in Potomac, Maryland, was reprimanded last year over what the Federal Insurance Deposit Insurance Corp.
Fast-growing bank resolves order over reliability of funding

5 days ago | today.westlaw.com | Kevin Wack

A fast-growing bank that got hit with an enforcement action in connection with the staying power of its deposits has resolved the matter after building out a digital banking arm. Forbright Bank, which is headquartered in Potomac, Maryland, was...
What Capital One must do to realize its payments ambition

2 weeks ago | americanbanker.com | Catherine Leffert |Kevin Wack

Now that the priciest U.S. bank merger of the last 15 years has closed, Capital One Financial has begun the process of integrating Discover Financial Services. It will be a marathon, not a sprint. The merger, valued around $35 billion when it was announced in early 2024, is not a run-of-the-mill bank deal that centers on streamlining business models or expanding geographies.
What Capital One must do to realize its payments ambition

2 weeks ago | today.westlaw.com | Catherine Leffert |Kevin Wack

Now that the priciest U.S. bank merger of the last 15 years has closed, Capital One Financial has begun the process of integrating Discover Financial Services. It will be a marathon, not a sprint. The merger, valued around $35 billion when it was...
Capital One agrees to pay $425 million to savers who sued

2 weeks ago | americanbanker.com | Kevin Wack

Capital One Financial, which announced the closing of its Discover Financial Services acquisition over the weekend, has agreed to pay $425 million to settle a class-action lawsuit involving the rates it paid on certain savings accounts. The settlement agreement has yet to receive court approval, and Capital One faces a separate lawsuit from the New York attorney general's office in connection with the same issue.
Capital One agrees to pay $425 million to savers who sued

2 weeks ago | today.westlaw.com | Kevin Wack

Capital One Financial, which announced the closing of its Discover Financial Services acquisition over the weekend, has agreed to pay $425 million to settle a class-action lawsuit involving the rates it paid on certain savings accounts.
Texas credit union's members OK merger with big CEO payout

3 weeks ago | americanbanker.com | Kevin Wack

Members of a small Texas credit union easily approved a merger that would provide $6.75 million in payouts to three of the member-owned cooperative's top executives. The vote by members of Space City Credit Union was 82%-18% in favor of the merger, according to information posted on Space City's website after Wednesday's deadline for casting ballots. Of the Houston-based credit union's roughly 12,000 members, about 7.1% participated in the vote.
Texas credit union's members OK merger with big CEO payout

3 weeks ago | today.westlaw.com | Kevin Wack

Members of a small Texas credit union easily approved a merger that would provide $6.75 million in payouts to three of the member-owned cooperative's top executives. The vote by members of Space City Credit Union was 82% to 18% in favor of the merger,...