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.
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The Consumer Financial Protection Bureau will potentially be banning business practices, forcing the divestiture of business lines and working with state agencies to revoke licenses, Director Rohit Chopra said Monday. He called out five big banks by name for repeatedly crossing legal lines.
March 28 -
In an update to an exam manual, the Consumer Financial Protection Bureau says racial or other bias associated with a wide range of financial products — not just credit — is illegal and subject to CFPB enforcement actions.
March 18 -
The Consumer Financial Protection Bureau took a step toward addressing appraisal bias with a proposal that kicked off an interagency rulemaking on automated valuation models, which use reams of data to assess property values.
February 25 -
"In many cases, these are fees where there's not even a service provided or where the bank or financial institution doesn't even do any work,” Rohit Chopra of the Consumer Financial Protection Bureau said Thursday in public remarks.
February 10 -
Rohit Chopra, the director of the Consumer Financial Protection Bureau, has cautioned banks, credit unions and fintechs about fair-lending violations that may stem from reliance on artificial intelligence. His comments threaten to discourage financial firms from using the technology to crunch nontraditional data about borrowers, experts say.
February 1 -
The Federal Reserve, FDIC, OCC and CFPB — increasingly under the leadership of Democratic appointees — are gearing up to regulate cryptocurrency, modernize the Community Reinvestment Act and give consumers more control of their personal data. Here's a look at the policy changes they're mulling.
January 27 -
Rohit Chopra, the director of the Consumer Financial Protection Bureau, described many charges by banks, credit unions and fintechs as "junk fees" and said they often exceed the cost of providing the service. Several trade groups called Chopra's claims "distorted and misleading."
January 26 -
The Federal Reserve Board would become far more diverse if Sarah Bloom Raskin, Philip Jefferson and Lisa Cook are confirmed by the Senate. Jefferson and Cook are respected economists seen as likely to get the nod, but Republicans will challenge Raskin's assertions that bank regulators can play a vital role in combating climate change.
January 14 -
The Consumer Financial Protection Bureau is more than a year away from issuing a proposal on consumers’ right to control the flow of their data between banks and third parties such as fintechs, according to people familiar with the bureau’s thinking. Many previously expected a plan to arrive this spring.
January 12 -
Biden administration appointees moved quickly to highlight climate change risks and unwind Trump-era regulatory relief and housing finance measures. These regulators and lawmakers will have a seat at the table as the progressive shift in banking policy continues.
December 29
