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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The Consumer Financial Protection Bureau issued guidance on the use of artificial intelligence in credit underwriting, saying that creditors are relying too heavily on a CFPB checklist and sample forms when they should provide specificity to explain why a consumer is denied credit.
September 19 -
The head of the Consumer Financial Protection Bureau defended the agency and its mortgage rules in particular on the 15th anniversary of the collapse of Lehman Brothers.
September 12 -
A district court judge ruled that Congress did not give the Consumer Financial Protection Bureau broad authority to look for discrimination, putting a major dent into the bureau's efforts to apply anti-discrimination principles to non-lending products such as advertising.
September 10 -
Rohit Chopra, the director of the Consumer Financial Protection Bureau, wants to ensure that Big Tech firms are not unfairly excluding smaller fintechs from innovating on their platforms.
September 7 -
The settlement resolves allegations dating to 2014 and covers 85 minority employees who alleged they were paid lower wages than their white counterparts and faced retaliation.
September 6 -
A former insider wants the Federal Home Loan Bank System's regulator to require its 11 regional banks to balance members' liquidity needs with the system's public mission to fund affordable housing and community development programs.
August 28 -
Comerica CEO Curt Farmer and CFO James Herzog as well as the company itself face a purported class action by shareholders for allegedly making false and misleading statements about the Dallas company's oversight of the Treasury Department's Direct Express program.
August 25 -
Roughly 55% of people sentenced for embezzling funds from 2007 to 2017 were women, according to new research. Some experts suggest women are more likely to hold accounting and money-handling jobs, while others say the trend is a reflection of biases by employers and law enforcement.
August 18 -
The Consumer Financial Protection Bureau plans to propose rules to require that data brokers comply with the Fair Credit Reporting Act to limit data from being sold for any reason other than what Congress has specified as having a "permissible purpose," such as credit underwriting.
August 15 -
Jay K. Oberg, a 32-year veteran of the Comerica Bank and a top deputy to CEO Curtis C. Farmer, plans to retire in December 2024.
August 11
