| As Toronto Dominion Bids To
Buy First Horizon Its Disparities In USA &
NYS Come to the Fore
By Matthew
Russell Lee, Patreon Maxwell
Book
BBC
- Guardian
UK - Honduras
- ESPN
SDNY / SOUTH
BRONX, Feb 28 – Seemingly
oblivious to US regulators
stated desire to tighten up
their merger review rules,
specifically on fair lending,
Toronto Dominion on February
28 announced a $13.4 billion
proposal to buy First Horizon.
It will be opposed.
Fair
Finance Watch has been
concerned by TD Bank's lending
disparities for some time.
Nationwide in 2020, TD Bank
denied almost as many
applications from African
Americans (833) as it made in
mortgage loans to African
Americans (853). It was far
more generous with white
borrowers: 23,469 loans made,
with only 9009 denials.
In New York
State in 2020, TD Bank was
even worse. It denied more
mortgage applications from
African Americans (255) that
it made loans to African
Americans in NYC (198). Again,
TD Bank was far more generous
with white borrowers in NYS:
3,558 loans made, with only
1714
denials.
Analysis will be conducted of
the target, First Horizon.
But just as
the Federal Reserve
begrudgingly is holding a
public hearing on US Bancorp -
MUFG / Union Bank, on March 8,
there is even more reason to
hold multiple hearings on a
large and disparate Canadian
bank buying Horizon.
Inner City Press
will be inquiring under the
Freedom of Information Act.
Watch this site.
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