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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Small banks appeared to notch a big win with the exemption from the Consumer Financial Protection Bureau's overdraft proposal. But some experts are questioning the CFPB's rationale, given research that shows small banks' overreliance on overdraft revenue.
By Kate BerryJanuary 23 -
The Consumer Financial Protection Bureau plans to release a proposal that would set maximum overdraft fees at $14 for the largest banks in an overhaul of how overdraft fees are calculated and charged.
By Kate BerryJanuary 17 -
The Supreme Court will hear oral arguments in two cases seeking to overturn the legal principle known as "Chevron deference," that could usher in a new era of litigation by corporations against government agencies.
By Kate BerryJanuary 16 -
The Senate on Wednesday fell short of the two-thirds majority needed to override President Biden's veto in December of a Republican-led resolution to gut the small-business data collection rule using the Congressional Review Act.
By Kate BerryJanuary 11 -
In comments submitted to the Consumer Financial Protection Bureau concerning its "large participant" rule governing Big Tech in payments, many commenters outlined procedural concerns, suggesting there may be grounds for litigation when the rule is finalized.
By Kate BerryJanuary 10 -
In comment letters to the Consumer Financial Protection Bureau concerning its proposed rule to allow consumers to share their banking data with third-party providers, banks worry about implementation costs while fintechs fear the rule will stymie innovation.
By Kate BerryJanuary 4 -
The Consumer Financial Protection Bureau will take a bite out of bank profits in 2024 by issuing final rules on overdraft and credit card late fees, among other major rulemakings.
By Kate BerryDecember 27 -
Frequent overdrafters — households that pay more than 10 overdraft fees a year — use the service as a form of credit, the Consumer Financial Protection Bureau said in a report.
By Kate BerryDecember 19 -
The Consumer Financial Protection Bureau is appealing a lower court ruling that the agency exceeded its authority in bringing an anti-discrimination enforcement action against a Chicago mortgage lender after he made disparaging remarks about Blacks and Hispanics.
By Kate BerryDecember 18 -
The bank in Richmond, Virginia, failed to properly disclose its overdraft practices to roughly 8,500 consumers who enrolled by phone or in branches from 2017 to 2020, according to the Consumer Financial Protection Bureau. The company admitted no wrongdoing.
By Kate BerryDecember 7