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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Chatbots may provide inaccurate information, may run afoul of consumer financial protection laws and may force consumers into "repetitive loops of unhelpful jargon," the Consumer Financial Protection Bureau warned.
June 6 -
Jennifer Schachterle will oversee the Home Loan bank's relationships with nearly 330 members. Two former members — Silicon Valley Bank and First Republic — failed this year, and consolidation has also thinned its ranks.
June 6 -
The Consumer Financial Protection Bureau issued only 20 enforcement actions in 2022, but some observers say the enforcement numbers belie the results that director Rohit Chopra is getting from other ways of holding companies accountable.
June 5 -
The Consumer Financial Protection Bureau said the Evansville, Indiana, installment lender had engaged in "unfair, deceptive and abusive acts and practices," and failed to reimburse interest to consumers who had cancelled certain add-on products.
May 31 -
The Consumer Financial Protection Bureau alerted staff this week that text messages had been sent to employee personal phone numbers claiming to be from Director Rohit Chopra.
May 12 -
Speaking before the International Swaps and Derivatives Association's annual meeting, Treasury Undersecretary for Domestic Finance Nellie Liang said liquidity and interest rate risk in the banking sector is being managed, but said fears of risk mounting in the nonbank sector are a source of concern.
May 11 -
The Consumer Financial Protection Bureau said it is still working to notify consumers about the Feb. 14 breach in which a bank examiner sent personal information on 256,000 consumers and supervisory information on 45 institutions to his email.
April 24 -
A former employee at the Consumer Financial Protection Bureau sent data on 256,000 consumers and dozens of companies to their personal email account.
April 20 -
The Home Loan Bank System says it is working precisely as Congress intended it to, by lending to banks in stress. Critics say borrowings can spread undercapitalized banks' problems into the broader financial system.
April 17 -
Banks could be in for a long, slow trickle of bank failures and consolidation in the coming months and years, particularly if inflation persists and interest rates keep rising. A downturn in commercial real estate could add to banks' problems.
April 11
