Kate Berry

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.

CFPB

CFPB missed opportunity to call out lending discrimination, critics say

The agency’s report on mortgage data submitted by lenders identified persistent disparities between white borrowers and minorities in denial rates and pricing. Some observers say the bureau should have been more explicit as the nation wrestles with systemic racism.

By Kate Berry

September 24
Election 2020

Trump vs. Biden: What’s at stake for banks

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.

By Hannah Lang

September 17
CFPB

CFPB gets tough with debt collectors as it readies rule

The financial industry has praised the measured approach taken in a pending regulation on permitted communications with consumers. But two recent complaints by the bureau against debt collectors reflect a potentially aggressive enforcement stance.

By Kate Berry

September 11
CFPB

CFPB’s latest underwriting revamp seen as boon to fintechs, GSEs

The agency’s plan to extend the "qualified mortgage" stamp of approval to more loans could help lenders that rely on alternative data and cushion the blow of other QM changes for Fannie Mae and Freddie Mac.

By Kate Berry

September 2
State regulators

Banks, consumer groups both got what they wanted in ‘mini-CFPB’ bill

The California plan to create a new, tougher state regulatory agency is at the finish line after lawmakers agreed to key exemptions for banks while maintaining strong enforcement measures for payday lenders and other firms.

By Kate Berry

September 1
FHFA

Refi fee will wipe out millions in mortgage profits

Lenders initially won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in.

By Kate Berry

August 20
Redlining

CFPB extends comment period on overhaul of redlining law

The CFPB is giving stakeholders until Dec. 1 to file comments on a potential overhaul to its rules related to the Equal Credit Opportunity Act, which prohibits discrimination in credit and lending decisions.

By Kate Berry

August 20
CFPB

CFPB proposes a new category of 'seasoned' qualified mortgages

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.

By Kate Berry

August 18
State regulators

California’s ‘mini-CFPB’ plan is back in play. Banks aren’t happy.

A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.

By Kate Berry

August 14
CFPB

Banks, consumers groups to CFPB: Don’t rush overhaul of redlining law

The agency sought feedback on potential changes to the Equal Credit Opportunity Act. But a coalition of industry and advocacy groups want a longer comment period to afford “a greater opportunity for thoughtful public participation.”

By Kate Berry

August 10