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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Financial firms claim a proposal by the Consumer Financial Protection Bureau would restrict lending, raise borrowing costs and result in more denials of credit to consumers.
November 28 -
The Consumer Financial Protection Bureau said in an annual report to Congress that unpaid medical debt is plagued by inaccuracies, and that consumers are often faced with opaque pricing and uncertain insurance coverage.
November 16 -
OFG Bancorp's CEO José Rafael Fernández has weathered tough times during Puerto Rico's economic downturn. Now he is hopeful that his bank can seize on the better times ahead.
November 15 -
The online payday lender violated a 2019 consent order by debiting consumers' bank accounts without the consumers' consent, the Consumer Financial Protection Bureau said.
November 15 -
City National Bank has tapped Howard Hammond, a 17-year veteran of Fifth Third Bancorp, as CEO of the Los Angeles-based bank, replacing Kelly Coffey, who will move to a newly-created role as CEO of the bank's entertainment unit.
November 10 -
Federal Housing Finance Agency Director Sandra Thompson is pushing for a quick launch of pilot programs at the 11 Federal Home Loan banks to help underserved communities after its report this week prescribed major reforms to the system.
November 10 -
The Federal Housing Finance Agency says it wants to more closely tether Federal Home Loan bank advances to housing and community development. Doing so will first involve clearly defining the banks' mission through regulation.
November 8 -
The Consumer Financial Protection Bureau released a report last week examining state CRA laws that have a more expansive scope and are more tightly integrated in the state licensing process.
November 6 -
A federal court extended an injunction that halts the Consumer Financial Protection Bureau's rule until the Supreme Court rules on the bureau's constitutionality.
October 26 -
The Consumer Financial Protection Bureau found that more consumers are being charged late fees, while determining that the average cardholder carried $5,288 in total credit card debt last year.
October 25 -
The New York State Department of Financial Services and the Federal Reserve Board penalized Metropolitan Commercial Bank for failing to prevent $300 million in fraud in a prepaid card program. It is the latest example of a bank being sanctioned in connection with rampant fraud during the COVID-19 pandemic.
October 20 -
The Consumer Financial Protection Bureau's proposal would give consumers a legal right to grant third parties access to financial data for a specific use, but firms cannot sell the data or use it for their own benefit — including by feeding it into algorithms or artificial intelligence.
October 19 -
The Department of Justice alleged that Ameris failed to open a single bank branch or provide home loans in minority neighborhoods in Jacksonville, Florida. Attorney General Merrick Garland said that many similar redlining investigations are currently underway.
October 19 -
The Consumer Financial Protection Bureau and the Justice Department warned banks and other lenders that credit applicants cannot be rejected due to their immigration status.
October 12 -
The Consumer Financial Protection Bureau alleged in a lawsuit that the nonbank lender violated a 2019 consent order and submitted incorrect information in 2020.
October 11 -
The Consumer Financial Protection Bureau plans to hire 75 employees in its enforcement division as it boosts investigations against "large market actors," according to an internal email obtained by American Banker.
October 5 -
In a case challenging the funding of the Consumer Financial Protection Bureau, justices across the political spectrum questioned where — and whether — the Constitution placed limits on Congress' power to delegate funding for federal agencies outside of annual appropriations.
October 3 -
The high court will hear oral arguments on Oct. 3 on whether the Consumer Financial Protection Bureau's funding violates the Appropriations clause. A key issue is whether parameters can be placed around Congress' authority over the federal purse strings.
October 1 -
Kathy Kraninger, who served as director of the Consumer Financial Protection Bureau from 2018 to 2021, has been named to lead the bank trade group in Florida.
September 29 -
Public policy experts debated the effect of rising rates on the mortgage market, the impact on homebuyers and ways that Fannie Mae and Freddie Mac could exit conservatorship at the National Mortgage News Digital Mortgage Conference.
September 28
