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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The nation's largest bank is temporarily reducing its exposure to the mortgage market amid rising unemployment and estimates that home prices could drop by 10%.
By Kate BerryApril 16 -
Just days after the Fed lifted Wells Fargo's asset cap so it could make more Paycheck Protection Program loans, it warned customers its queue is long and they may want to go elsewhere before program funds are exhausted.
By Kate BerryApril 13 -
After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award.
By Kate BerryMarch 17 -
Since Wells Fargo’s phony-accounts scandal broke in 2016, the bank has appeared contrite in public. In private, it’s a different story.
By Kate BerryApril 7 -
Unlike other scandals in recent years involving foreign exchange rates and the London Whale, Wells' employees falsifying accounts and charging unfair fees is easy to grasp.
By Kate BerryOctober 26 -
Wells Fargo appears to have offered two different reasons for why it failed to inform investors about the investigation into 2 million phony accounts.
By Kate BerryOctober 25 -
Wall Street analysts are divided on how much a changing of the guard will help; lawmakers on Capitol Hill say it's not enough.
By Kate BerryOctober 13 -
A tale of two banks emerges from a hearing on Wells Fargo's phony account scandal; one calls the problem an aberration, the other routine.
By Kate BerryOctober 12 -
Wells has long touted cross-selling as the reason behind its success. But revelations of a cutthroat sales culture and phony accounts have undermined its credibility.
By Kate BerrySeptember 23 -
Wells Fargo Chief Executive John Stumpf arguably faces the challenge of his career on Tuesday as he appears before the Senate Banking Committee to answer criticisms that he and other top bank executives should have detected and stopped millions of phony accounts from being opened.
By Kate BerrySeptember 19