Kate Berry has covered the Consumer Financial Protection Bureau for American Banker since 2016. She joined the publication in 2006 covering mortgage lending and the financial crisis. Berry also has covered big banks including Bank of America, J.P. Morgan Chase and Wells Fargo. She has won five awards from the Society of American Business Writers and Editors, and has worked at several news organizations including the Orange County Register, the Los Angeles Business Journal and the Associated Press. Berry began her career as a clerk at the New York Times.
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Competitors have been spreading rumors that JPMorgan Chase is quitting the field, the bank's CEO said in a wide-ranging question-and-answer session that touched on Bitcoin, China, and his retirement plans.
September 18 - North Carolina
Brian Moynihan, Bank of America's chairman and CEO, told investors Thursday that revenue from fixed-income and equity markets should decline by 5% to 6% in the third quarter compared with a year ago. The Charlotte, N.C., bank will continue to have a higher efficiency ratio relative to its peers because of the high costs of paying financial advisers.
September 17 -
Wells Fargo is raising minimum credit score requirements on Federal Housing Administration loans, part of the ongoing jockeying by large banks to limit lawsuits by the Justice Department for defective FHA loans.
September 17 -
The third quarter ends in two weeks, and top executives at Citigroup, Wells Fargo, and two regional banks are raising concerns about cost pressures, impediments to revenue growth and heightened lending risks.
September 16 -
Iron Mountain, the leading provider of document storage, is buying its main rival. If the merged company tried to raise prices, it might be the final straw that motivates banks to shift data storage to the cloud.
September 9 -
Wells Fargo has named Michael DeVito head of mortgage production, making him responsible for its retail and correspondent lending divisions.
September 3 -
The Home Mortgage Disclosure Act data set to be released in the next few weeks will offer new proof that mortgage lending activity was stronger than expected last year. That fresh data, the likely delay in Fed action on rates and other factors could prompt higher volume estimates for 2015.
September 2 -
The market correction and likely longer timeline for a Fed rate rise have sent some overly optimistic investors to the door, and now prices are closer in line with the fundamentals. That's setting the stage for a bounceback in some of the biggest banks' stocks and may ease pressure on them coming into third-quarter earnings season.
August 28 -
Walter Investment Management has received approval from Freddie Mac to hold the mortgage servicing rights on $3.3 billion in residential mortgage loans.
August 27 -
The Federal Housing Administration has resolved a long-standing conflict with municipalities and private companies that back "green energy" loans that is expected to benefit banks and other mortgage lenders. The next question is whether the regulator of Fannie Mae and Freddie Mac mortgages will do the same.
August 25
