Kate Berry

Reporter at American Banker covering the Consumer Financial Protection Bureau @Arizent [email protected]

[Rob Blackwell @robblackwellAB]

Woah.

[Aaron Klein @Aarondklein]

Step 1 help create a crisis
Step 2 profit from it

https://t.co/whqWQSSWzv

[Kate Berry @kateberry1]

""Terminating over a thousand people a year wasn't difficult to understand." The inside story on Wells Fargo's phony-account scandal. A blow-by-blow by my colleague @KevinWack @AmerBanker

https://t.co/klgAwNjJF4

[Kate Berry @kateberry1]

The CFPB faces a tricky road ahead writing rules around how financial institutions provide access to bank transaction data to consumers on request.
https://t.co/xxKLBioi6P

[Kate Berry @kateberry1]

“I really don't get the point of this whole [crypto] system. I think it's going to be a little bit like Tulip mania that's just going to collapse in value,” Rep. Juan Vargas. D-Calif., said a House hearing. @ChropraCFPB @CFPB
https://t.co/XQblGXPjyR

[Kate Berry @kateberry1]

Silicon Valley Bank s tipping toward being liability-sensitive — with liabilities such as deposits repricing faster than loans and other assets — which isn't ideal in a rising rate environment. @AllissaKline
https://t.co/g1j9wxctaB

[Kate Berry @kateberry1]

The U.S. central bank started "very slow off the mark" in tightening, said @NewYorkFed President Bill Dudley and @FederalReserve "hasn't accomplished anything" in loosening the U.S. labor market even after four consecutive 75-basis-point hikes.
https://t.co/u13APniOgk

[Kate Berry @kateberry1]

Mortgage rates have doubled this year hitting an average of 6.94% last week, while home loan applications have fallen to their lowest level in 25 years. Many lenders say they are losing money selling loans backed by @FannieMae or @FreddieMac.
https://t.co/hvuZLPQsNJ

[Kate Berry @kateberry1]

"We're in a situation where for the foreseeable short-term future, a larger and larger percentage of potential borrowers are not going to get a loan," said Bryan Filkey @InterfirstCo.
https://t.co/hvuZLPyjzB

[Kate Berry @kateberry1]

American Express has not seen changes in its customers' spending behavior. "Last quarter was a record-level quarter and this quarter was only [a bit] behind that," said Steve Squeri @Amex.
https://t.co/gWHfqOPdrM

[Kate Berry @kateberry1]

"Every single CFPB rule on the books and enforcement actions could be subject to a legal challenge," said Patricia McCoy, a professor at Boston College Law School.
https://t.co/81zLY1Du1x

[Kate Berry @kateberry1]

"Senator Warren will pick up a stick, a stone or anything she can find on the ground to beat Wells Fargo over the head with, even though it's wholly unclear whether the numbers [she released] were facts," said Isaac Boltansky at BTIG.
https://t.co/ieogjJh0uL

[Kate Berry @kateberry1]

This makes sense: Federal Reserve Vice Chair for Supervision Michael Barr wants banks to think twice about taking on deposits from crypto firms. @ByKyleCampbell @federalreserve
https://t.co/SnbPSair9v

[Kate Berry @kateberry1]

https://t.co/yt7GCUDjzw

[Kate Berry @kateberry1]

"Financial institutions should not be wholly dependent on [government] assistance, whether directly or indirectly," @FDICgov's Martin Gruenberg @byclairew
https://t.co/E2mr0eTDxA

[Kate Berry @kateberry1]

"It is vitally important that the government commit the resources and the time to combat fraudsters and scammers that are hurting both consumers and banks," said RobHunter @TCHTweets.
https://t.co/vi26QrmSYK

[Kate Berry @kateberry1]

"It's very unusual for something to go on that long for 13 years — it's rare, " said Roland Reynolds, a partner at Gordon & Reynolds, on the complicated legal tale of a couple and their $1.7 million home in San Ramon, California.
https://t.co/8MWNCDxJ37

[Kate Berry @kateberry1]

Senate Banking Chair @SenSherrodBrown said the better alternative to employer-based earned wage advance products "would simply be for the companies to pay their workers enough to live on." @BrendanPedersen
https://t.co/UWSe1udpFj

[Kate Berry @kateberry1]

"Banks engaged in crypto-related activities need to have appropriate measures in place to manage novel risks and...compliance with all relevant laws," including to money laundering," @federalreserve's Michael Barr @Brookings Inst. @BrendanPedersen
https://t.co/SCNhzhyYFY

[Kate Berry @kateberry1]

Former Comptroller Eugene Ludwig cites fintechs that take deposits and provide lending without proper oversight as one reason for the next recession. @tchtweets @bankpolicy @bpievents
https://t.co/hyeyZKKzHc