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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Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.
By Polo RochaMarch 6 -
Lenders collected an estimated $25 billion in additional interest income last year by raising the average margin on annual percentage rates, or the amount above the prime rate, according to the Consumer Financial Protection Bureau.
By Kate BerryFebruary 22 -
The median interest rate that large credit card issuers charged consumers with good credit in the first half of 2023 was 28.2%, compared with 18.15% at smaller banks and credit unions, according to a study by the Consumer Financial Protection Bureau, which is on a campaign against excessive fees.
By Kate BerryFebruary 18 -
A clash over pay playing out in contract negotiations between the Consumer Financial Protection Bureau and its employee union occur as the Supreme Court is considering whether the agency must get its funding from Congress.
By Kate BerryFebruary 5 -
In comments submitted to the Consumer Financial Protection Bureau concerning its "large participant" rule governing Big Tech in payments, many commenters outlined procedural concerns, suggesting there may be grounds for litigation when the rule is finalized.
By Kate BerryJanuary 10 -
The Consumer Financial Protection Bureau will take a bite out of bank profits in 2024 by issuing final rules on overdraft and credit card late fees, among other major rulemakings.
By Kate BerryDecember 27 -
Financial firms claim a proposal by the Consumer Financial Protection Bureau would restrict lending, raise borrowing costs and result in more denials of credit to consumers.
By Kate BerryNovember 28 -
The Consumer Financial Protection Bureau released a report last week examining state CRA laws that have a more expansive scope and are more tightly integrated in the state licensing process.
By Kate BerryNovember 6 -
The Consumer Financial Protection Bureau plans to hire 75 employees in its enforcement division as it boosts investigations against "large market actors," according to an internal email obtained by American Banker.
By Kate BerryOctober 5 -
Public policy experts debated the effect of rising rates on the mortgage market, the impact on homebuyers and ways that Fannie Mae and Freddie Mac could exit conservatorship at the National Mortgage News Digital Mortgage Conference.
By Kate BerrySeptember 28