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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Federal backing for firms facing a deluge of missed mortgage payments is still on the table despite recent comments by an official who questioned the need to help the industry.
April 20 -
The move is part of an effort by CFPB Director Kathy Kraninger to help smaller lenders by significantly raising loan thresholds for collecting and reporting mortgage data.
April 16 -
The agency is still moving forward on key regulations dealing with payday lending and mortgage underwriting despite new demands posed by the crisis.
April 15 -
The Borrower Protection Program enables the two agencies to exchange information about loss mitigation efforts and consumer complaints regarding specific servicers.
April 15 -
A bipartisan group of lawmakers wrote in a letter to the Treasury secretary that the Financial Stability Oversight Council should create a liquidity facility to deal with a flood of forbearance requests brought on by the coronavirus pandemic.
April 8 -
Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.”
April 7 -
Ginnie Mae and the FHA provided temporary liquidity relief for mortgage servicers bracing for higher delinquencies, but the industry continues to pressure Treasury and the Fed to provide more comprehensive support.
April 6 -
The agency said lenders should avoid reporting delinquent payments to credit bureaus for consumers who have sought payment relief due to the pandemic.
April 1 -
The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship.
March 30 -
The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.
March 26
