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.

FHFA

Multifamily borrowers in forbearance cannot evict tenants, FHFA says

The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent.

By Kate Berry

August 6
CFPB

CFPB launches investigation of Quicken Loans real estate affiliate

The Detroit lender disclosed that the consumer bureau had sent a civil investigative demand to Rocket Homes Real Estate for potential violations of the Real Estate Settlement Procedures Act.

By Kate Berry

July 16
CFPB

CFPB slaps Chicago mortgage lender with redlining lawsuit

The consumer agency alleges Townstone Financial's CEO and president made statements on a radio show discouraging applicants living in Black neighborhoods from seeking home loans.

By Kate Berry

July 15
Wells Fargo

Wells Fargo buys $14B of delinquent mortgages tied to pandemic

The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.

By Kate Berry

July 13
CFPB

CFPB declares most agency rules still valid after high court decision

The agency sought to provide certainty that most actions from the past eight years remain in effect despite the ruling that the bureau's leadership structure is unconstitutional.

By Kate Berry

July 7
CFPB

CFPB political appointee to be named agency's No. 2: Sources

Tom Pahl, a former longtime regulator at the Federal Trade Commission, has led key rulemaking efforts for the consumer bureau.

By Kate Berry

July 2
CFPB

Will CFPB advisory opinions offer clarity, or give companies a pass?

The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking.

By Kate Berry

July 1
CFPB

After ruling, stage set for new battles over CFPB's future

The Supreme Court threw out a key statutory provision concerning the agency’s leadership structure, but the presidential election and possible legislative reforms could bring about more changes to the embattled bureau.

By Kate Berry

June 29
CFPB

Supreme Court strikes down CFPB leadership structure

In a split 5-4 decision, the justices gave presidents new power to remove the agency's head at will. The ruling could have far-reaching implications for other regulators with single directors.

By Kate Berry

June 29
Litigation

No decision by Supreme Court on CFPB's constitutionality

With just 13 decisions remaining on the docket this session, the high court's highly anticipated ruling in a case challenging the agency's leadership structure could come as early as next Monday.

By Kate Berry

June 25