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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CFPB Director Richard Cordray said the agency has limited resources to go after bad actors for deception or fraud and consent orders are the most effective way to shape industry practices.
March 9 -
The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declared bankruptcy or dies. Because private student loans are often sold and securitized, some companies' promises to eliminate so-called "auto defaults" are not being upheld.
March 9 -
Richard Hunt, the president of the Consumer Bankers Association, issued a rare call-to-arms to bankers to stand up against the negative portrayal of banks by politicians on the campaign trail.
March 8 -
Hillary Clinton edged out Donald Trump in a mock election poll Tuesday at the Consumer Bankers Association conference, winning 52% to 48%.
March 8 -
The agency recently cited providing equal access to small-business loans as one of nine top priorities for the next two years, saying it plans to build a team dedicated to the issue and infrastructure "to intake and analyze small-business lending complaints." But bankers worry it may go too far.
March 3 -
Oversight of the four largest mortgage servicers' compliance with the national mortgage settlement is officially over, the watchdog overseeing the process said Thursday.
March 3 -
LAS VEGAS The Consumer Financial Protection Bureau on Wednesday ordered the online payment processor Dwolla Inc. to pay a $100,000 fine for deceiving customers about its security practices the first action it has taken related to data security.
March 2 -
The Consumer Financial Protection Bureau on Wednesday ordered online payment processor Dwolla Inc. to pay a $100,000 fine for deceiving customers about its security practices the first action it has taken related to data security.
March 2 -
The Consumer Financial Protection Bureau has not named a permanent deputy director since July. Given the contentious political battle over Cordray's recess appointment and ultimate confirmation by the Senate in 2013, some former officials say it may wait until after the election to make a choice. Here's why.
February 26 -
The Consumer Financial Protection Bureau has not named a permanent deputy director since July. Given the contentious political battle over Richard Cordray's recess appointment and ultimate confirmation by the Senate in 2013, some former officials say it may wait until after the election to make a choice. Here's why.
February 25 -
The Consumer Financial Protection Bureau on Tuesday hit Citibank with $8 million in fines and restitution for allegedly selling credit card debt at inflated rates and failing to send consumer payments to debt buyers. Two debt collection firms also were ordered to pay civil penalties for altering the dates and amounts of debt owned by consumers.
February 23 -
Bank of America launches a 3% down payment home loan in partnership with Freddie Mac, but the bank wont retain any risk if the loans default. Thats because it will immediately will sell the loans and servicing rights to Self-Help Federal Credit Union.
February 22 -
Bank of America will launch a 3% down payment home loan in partnership with Freddie Mac, but will not retain any risk if the loans default. Thats because B of A will immediately will sell the loans and servicing rights to Self-Help Federal Credit Union, a Durham, N.C., community development lender.
February 22 -
The decision in Yvanova v. New Century Mortgage Corp. has the potential to radically increase the number of lawsuits brought by borrowers, particularly on loans that were pooled into securitized trusts.
February 18 -
Federal Housing Finance Agency Director Watt stopped short of calling for Treasury to recapitalize the government-sponsored enterprises, but said "something needs to be done" before they run out of capital.
February 18 -
Lenders are still holding on to scores of delinquent mortgages that date to the real estate crash, but a surge in home values across the country is motivating them to move the most troublesome loans off their books more quickly.
February 18 -
Freddie Mac on Thursday reported strong fourth quarter and year-end profits driven by a surge in demand for both home purchase and apartment loans.
February 18 -
Fannie and Freddie have been selling pools of delinquent mortgages at auction to the highest bidders. Community groups say the Federal Housing Finance Agency should be giving preferential treatment to nonprofits and community development financial institutions.
February 12 -
Bank of America says it has found a growth opportunity courting European companies with U.S. subsidiaries as beleaguered European banks retrench.
February 10 -
Many institutional investors are refusing to purchase mortgages loans until they get assurance from the CFPB that they won't have to pay for others' mistakes. Their pullback could further the slow the issuance of private-label mortgage bonds this year, a huge concern at a time when the majority of home loans are insured by Fannie, Freddie and the FHA.
February 9
