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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Federal Home Loan banks aren't doing enough to address the shortage of affordable housing in the U.S., FHFA Director Sandra Thompson says. Some of their members are instead using advances to manage liquidity and perhaps engaging in crypto-related and other activities that put the Deposit Insurance Fund at risk, she says.
February 13 -
The Federal Home Loan Banks system's primary affordable housing program has not had an in-depth review in more than 12 years, according to a new inspector general report.
February 10 -
The Community Bankers Association of Illinois is calling on regulators to issue guidance that would make large financial institutions toughen customer verification and be more cooperative in resolving disputes over falsified checks.
February 9 -
Townstone Financial in Chicago had been accused of discriminating against certain consumers by trying to discourage them from applying for home loans. However, a judge ruled that federal law protects only actual applicants.
February 6 -
A core issue in the upcoming fight over late fees involves what data is being collected on card issuers' costs and losses associated with late payments.
February 3 -
Consumer Financial Protection Bureau Director Rohit Chopra plans to propose a rule to set late fees at reasonable levels and no longer peg late fees to inflation.
February 1 -
The Consumer Financial Protection Bureau's data-access rule could create an uneven playing field because banks and credit unions are examined by regulators but hundreds of nonbank fintechs are not.
January 30 -
California Attorney General Rob Bonta is standing by the state's commercial financing disclosure law, urging more protections for small-business financings and arguing that federal consumer law does not not apply to commercial lending.
January 24 -
The Consumer Financial Protection Bureau sent a memo asking employees to take a survey that will help the Office of Personnel Management formulate a coordinated governmentwide policy.
January 23 -
A proposal by the Consumer Financial Protection Bureau to rein in credit card late fees could result in changes to a "safe harbor" that would favor consumers rather than financial institutions.
January 19 -
The Consumer Financial Protection Bureau says companies need to clearly and conspicuously disclose terms of subscription services and get informed consent from consumers.
January 19 -
The Consumer Financial Protection Bureau expects mortgage servicers to offer streamlined loss mitigation options to borrowers experiencing financial hardship — even if it's not related to COVID-19.
January 18 -
Fannie Mae has selected five organizations to share in a $5 million pilot program aimed at expanding and promoting affordable housing and Black homeownership.
January 18 -
Signature Bank of New York is pulling back from crypto deposits and has increased borrowings from the Federal Home Loan Bank of New York.
January 17 -
Ryan Crowley, previously a Citigroup client-experience executive, replaces the unit's former chief operating officer, Pooja Daswani. The company also picked a CEO for its North America business and launched a search for a new wealth management chief.
January 12 -
The Department of Justice said City National avoided offering home loans in Black and Hispanic neighborhoods in Los Angeles County from 2017 to 2020.
January 12 -
The Consumer Financial Protection Bureau is making a second attempt at blocking companies from limiting consumers' legal rights through arbitration clauses that violate consumer protection laws.
January 11 -
The embattled crypto-service bank got a lifeline of liquidity in the fourth quarter of 2022 from the Federal Home Loan Bank System, raising new questions about both the Home Loan banks' purpose and crypto contagion.
January 10 -
The Consumer Financial Protection Bureau's outline for upcoming regulations reflects the efforts of Director Rohit Chopra to reduce credit card late fees and overdraft fees.
January 6 -
The Consumer Financial Protection Bureau and the state attorney general claim Credit Acceptance Corp., an indirect auto lender, deceived thousands of borrowers by failing to disclose and include finance charges in calculating the cost of a car loan.
January 4
