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
Banking and credit union trade groups are urging Congress to consider repealing any upcoming Consumer Financial Protection Bureau rules governing arbitration, payday lending, debt collection and prepaid cards by using its authority under the Congressional Review Act.
The Consumer Financial Protection Bureau on Wednesday filed consent orders against three reverse mortgage companies, accusing them of deceptive advertising and misrepresentations.
The Consumer Financial Protection Bureau and its director Richard Cordray are on a collision course with President-elect Donald J. Trump in what could become a legal showdown over the limits to executive power.
Steven Mnuchin's confirmation hearing is likely to be dogged by stories of homeowners who claim his bank, OneWest, illegally foreclosed on them. While the stories are unlikely to prevent President-elect Donald Trump's pick from being confirmed, it could weaken Mnuchin politically and rehash grievances from the financial crisis.
The Consumer Financial Protection Bureau's contentious rulemakings on arbitration and payday lending may be in jeopardy with the change in administrations and continued GOP control of Congress.
President-elect Donald Trump might attempt to remove Consumer Financial Protection Bureau Director Richard Cordray from his post and boost legislative efforts to weaken its powers.
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.
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.
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.
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