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 bureau had already proposed removing the underwriting portion of the rule, but a judge in Texas has indefinitely delayed the other key component as well.
March 22 -
The changes will expand the role of the Consumer Advisory Board and other panels, but stopped short of reversing the downsizing ordered last year by former acting Director Mick Mulvaney.
March 21 -
The state's financial regulator says Fast Money Loan charged consumers interest rates and fees above the state's usury cap, and operated unlicensed storefronts.
March 19 -
The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible.
March 19 -
Federal regulators normally hesitate even to name specific institutions, but the Office of the Comptroller of the Currency appears to be taking a different tack with Wells.
March 15 -
The bureau's director, Kathy Kraninger, faced a barrage of criticism from Senate Democrats on the agency's lack of enforcement actions, a reversal on Military Lending Act examinations and changes to the payday loans rule.
March 12 -
The 2020 budget would add the Consumer Financial Protection Bureau and FSOC to congressional appropriations, charge lenders for FHA upgrades and require universities to have skin in the game on student loans.
March 11 -
The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.
March 6 -
The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.
March 4 -
Following a congressional mandate, the consumer bureau solicited public feedback on Property Assessed Clean Energy loans, which have been deemed risky by the Federal Housing Administration.
March 4 -
The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue.
February 20 -
The bureau wants to further remove the threat of legal liability for firms that test products benefiting consumers, but the attorneys general say the agency cannot provide immunity from state law.
February 12 -
In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee.
February 6 -
In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee.
February 6 -
The lender collected at least $21,800 that consumers did not owe and harassed borrowers' personal references, according to a CFPB settlement.
February 5 -
Absent some policy change, nearly a third of the loans backed by Fannie Mae and Freddie Mac could be in violation of the Consumer Financial Protection Bureau's Qualified Mortgage rule in two years.
February 4 -
The CFPB banned online payday lender NDG Financial, three corporate officers and nearly a dozen affiliated companies from lending to consumers in the U.S.
February 1 -
The hiring of a former GOP congressional aide suggests the bureau will continue to rely on political appointees in senior positions.
January 28 -
The consumer bureau says the online lender improperly extracted millions from over 5,000 accounts without getting authorization.
January 25 -
Chris D’Angelo, the CFPB's associate director of supervision, enforcement and fair lending, is leaving the bureau after eight years to become a chief deputy attorney general in New York state.
January 24
