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.
The CFPB's decision to drop a requirement that third parties verify a debt's accuracy before collecting on it is likely to speed the agency's efforts to write rules for all parts of the debt collection market.
Litigation is soaking up a significant share of resources at the Consumer Financial Protection Bureau, which faces at least a dozen cases challenging its constitutionality and a surging number of legal disputes to its enforcement actions.