Kevin Wack is a California-based reporter for American Banker who covers the U.S. consumer finance industry. He was formerly the newspaper's Capitol Hill correspondent. Earlier, he worked on financial policy in Washington, first as a fellow with the Senate Permanent Subcommittee on Investigations and later as senior editor for the Congressional Oversight Panel for TARP. Wack has also reported for the Associated Press and worked as the investigative reporter for the Portland Press Herald in Maine. A St. Louis native, Wack is a graduate of Stanford University and holds a master's degree from Northwestern University's Medill School of Journalism.
In a surprise move, the Supreme Court will decide whether Amex may bar merchants from steering customers to less expensive card networks. The card issuer will have to prove the consumer gain from its practices outweighs the merchant pain.