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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With the government contract for Direct Express, Bank of New York would gain a free liquidity source of more than $3 billion in deposits a month and expand its burgeoning offerings to the underbanked.
By Kate BerryJuly 22 -
Shares in the Dallas bank fell sharply after it disclosed that it expects to lose its contract for the Direct Express program, which would wipe out more than $3 billion in non-interest bearing deposits. Comerica's involvement with the Treasury Department's prepaid card program has been marred by controversy.
By Kate BerryJuly 19 -
The $22 billion-dollar earned wage access industry is vigorously opposing the Consumer Financial Protection Bureau's plan to classify paycheck advances as consumer loans requiring disclosures of fees and costs, and says it will fight the rule in court.
By Kate BerryJuly 18 -
Payroll advances would be considered consumer loans under an interpretive rule by the Consumer Financial Protection Bureau that would require disclosures of annual percentage rates and fees under the Truth in Lending Act.
By Kate BerryJuly 18 -
The Consumer Financial Protection Bureau's proposal to eliminate medical debts from credit reports is under attack from debt collectors, which claim the rule will drive up litigation costs and drive doctors out of business.
By Kate BerryJuly 15 -
A federal appeals court ruled that the Equal Credit Opportunity Act prohibits not just outright discrimination but also the discouragement of prospective applicants for credit.
By Kate BerryJuly 11 -
The Consumer Financial Protection Bureau has proposed requiring that mortgage servicers exhaust all efforts at assisting struggling borrowers before moving ahead with a foreclosure.
By Kate BerryJuly 10 -
The Cincinnati bank has agreed to pay a total of $20 million to settle a lawsuit by the Consumer Financial Protection Bureau over fake bank accounts and to resolve separate violations involving force-placed auto insurance.
By Kate BerryJuly 9 -
Silvergate's former CEO and onetime chief risk officer settled allegations that they misled investors about the strength of the bank's anti-money laundering compliance program. Meanwhile, Silvergate's former CFO denied separate allegations by the SEC and vowed to defend himself in court.
By Kate BerryJuly 1 -
Ficklin has been the CFPB's only fair lending director since 2011, establishing the office under Elizabeth Warren and pushing fair lending enforcement beyond mortgages into other financial products such as credit cards.
By Kate BerryJuly 1