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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Ryan Crowley, previously a Citigroup client-experience executive, replaces the unit's former chief operating officer, Pooja Daswani. The company also picked a CEO for its North America business and launched a search for a new wealth management chief.
January 12 -
The mortgage market is reeling from the central bank's strategy of raising rates and reducing its holdings of mortgage-backed securities. Lenders face the worst headwinds in more than a decade.
October 24 -
Though fewer people are writing checks, banks of all sizes are seeing a massive increase in check fraud since 2020. Recouping losses from bad checks is pitting banks against each other, and regulators may have to weigh in.
September 1 -
Rohit Chopra, a liberal consumer watchdog, was approved as the agency’s director nine months after the Biden administration first announced him as the nominee.
September 30 -
Interim CFPB Director Dave Uejio expressed concern that financial institutions have dragged their feet in resolving disputes with consumers for service issues during the pandemic.
February 10 -
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%.
April 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.
April 13 -
After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award.
March 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.
April 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.
October 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.
October 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.
October 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.
October 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.
September 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.
September 19 -
The penalty is the largest ever imposed by the Consumer Financial Protection Bureau.
September 8 -
The proposal, which would allow more consumers to join class-action lawsuits over disputes, could drive up compliance costs. Agency director Richard Cordray wants more accountability.
May 5
