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.
The third quarter ends in two weeks, and top executives at Citigroup, Wells Fargo, and two regional banks are raising concerns about cost pressures, impediments to revenue growth and heightened lending risks.
M&T, PNC, SunTrust and other regionals reported strong fee growth thanks to inroads they have made in investment banking, wealth management and other areas. It couldn't have come at a better time for them.
The Greek debt crisis and China's stock-market crash may put downward pressure on interest rates and delay the Fed's interest rate hike, and they are adding uncertainty at a time when lenders thought recovery would be taking hold.