Kate Berry

Kate Berry


Kate Berry is a reporter at American Banker, where she has covered the financial crisis, the national mortgage settlement and mortgage lending by major U.S. banks. She has won five awards from the Society of American Business Writers and Editors, and has worked for a number of news organizations including the Orange County Register, the Arizona Republic and the Associated Press. She started her career as a clerk at the New York Times.

All Kate Berry's Stories
Companies weighing whether to reopen past settlements with the Consumer Financial Protection Bureau after a federal appeals court limited the agency's powers may want to think twice, according to industry experts.
Franklin Codel, Wells Fargo's head of mortgage, will now oversee all consumer lending as part of a management shakeup that comes amid the bank's fake account scandal.
Within hours of taking the reins at Wells Fargo, new chief Tim Sloan pledged to finish the reforms begun by his predecessor, John Stumpf, who stepped aside Wednesday in an attempt to quiet the phony-accounts scandal that has rocked the company.
The ramifications for a U.S. Court of Appeals decision against the CFPBs constitutionality go far beyond just the agencys independence, and may have consequences for other federal agencies with similar structures. The ruling may also hamper the CFPB's powers going forward, including its ability to retroactively apply new rules.
The single-director structure of the Consumer Financial Protection Bureau represents an unconstitutional concentration of executive power, a federal appeals court said Tuesday. But the court stopped short of disbanding the agency, instead giving the president more power to remove its leader.
The Department of Justice wants banks to more fully cooperate with civil investigations. Companies now are expected to "materially assist" the agency in providing documents, access to witnesses and even inculpatory documentary evidence such as emails and text messages.
The Consumer Financial Protection Bureau filed a lawsuit against a Van Nuys, Calif., credit repair company for deceptively marketing its services and charging consumers illegal fees.
The Consumer Financial Protection Bureau's choice for its new head of supervision and enforcement the No. 3 slot at the agency is raising eyebrows because of his political background and relative inexperience compared with similar positions at other regulators.
The Consumer Financial Protection Bureau has met the requirements for convening small business review panels though most panelists said they disagreed with the agency's final rules, the Government Accountability Office said.
The Consumer Financial Protection Bureau on Thursday finalized new requirements for mortgage servicers that provide more help to struggling borrowers and add consumer protections when loans are transferred.
The Consumer Financial Protection Bureau added its voice Tuesday to a chorus of other regulators in calling for sustainable foreclosure relief when the Home Affordable Modification Program expires at yearend.
The CFPB updated its "Know Before You Owe" mortgage disclosure rule to provide more clarity to lenders. It has proposed additional tolerance provisions, clarified a partial exemption for housing finance agencies, extended the rule's coverage to all cooperative units, and provided more clarity about privacy and the sharing of information.
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