| Fair Finance
Watch Protests Investors Bank Bid For
Berkshire Branches on Lending Disparities
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- ESPN
SOUTH BRONX, NY,
Jan 19 – Even amid the
Coronavirus pandemic, U.S.
banks keeps seeking to merge
and expand, with less and less
oversight. Fair
Finance Watch, with Inner City
Press on the FOIA, on January
19, 2021 has filed a Community
Reinvestment Act protest:
"Federal
Deposit Insurance Corporation
Attn: Frank Hughes, Regional
Director and Robert P.
Cordeiro, Scott D. Strockoz
350 Fifth Avenue, Suite 1200
New York, NY 10118-0110
Re: Timely First
Comment on Application by
Investors bank to Buy Branches
from Berkshire Bank Dear
Regional Director Hughes and
others at the FDIC:
This is a
timely first comment opposing
and requesting an extension of
the FDIC's public comment
period on the Applications by
Investors Bank to acquire
branches from Berkshire Bank -
and close some.
The applicant Investors Bank
in the New York in 2019 made
272 home loans to whites and
only 11 to African Americans.
Its denial rate for African
Americans was more than double
than for
whites.
In
Pennsylvania in 2019,
Investors Bank made 61 home
loans to whites and NONE to
African Americans, and only
ONE to Latinos. This is
unacceptable.
There is a history. For the
record, here.
Hearings are requested on
that; they may also touch on
which branches Investors would
close. The comment period
should be extended;
evidentiary hearings should be
held; and on the current
record, the application should
not be approved."
In this
new era, we will report on
this in detail. Watch this
site.
***
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