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Sept 24, 2013

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Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

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In CRA Test Challenges To VeraBank Panola Application Replied To By Fed But OCC Silent

By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - ESPN

FEDERAL COURT / S Bronx, Feb 6 – Whether or not the U.S. Community Reinvestment Act will be again enforced until the new Administration and its regulators is an open questions.

  On the 10th day of the new Administration, Fair Finance Watch with Inner City Press on the FOIA filed comments with the post-Brooks Office of the Comptroller of the Currency and with the Federal Reserve on a proposal by VeraBank of Texas to acquire Panola National Bank.

 The issues include that the applicant VeraBank in Texas in 2019 made 465 home loans to whites and only NINE to African Americans. Its denial rate for African Americans was more than FOUR TIMES than for whites.   

   That is to say, VeraBank in Texas in 2019 made 3.7 loans to whites for each denial to whites. It made less than one - 0.81 - loans to African Americans for every denial to African Americans.

   There is also this: "'In the second round we have seen about half the number of requests that we did in the first round,' said Brad Tidwell, president and CEO of Henderson-based VeraBank."

  To the OCC, the rubber-stamping of mergers by redliners under Brian Brooks and Joseph Otting has been explicitly noted. To the Fed, its logic in extending a recent comment period due to Coronavirus must apply to this and other applications.

  Now, 17 days into the new Administration, the Federal Reserve has replied: "Richard Potomac, Esq.
Norton Rose Fulbright US LLP
Dallas, Texas 75201-7932
Subject: VeraBank, Inc., Henderson, Texas, to acquire Panola National Bank, Carthage, Texas.
Dear Mr. Potomac:
This is to advise that as of February 2, 2021, processing of your application was transferred from Delegated
Action to Board Action for further review." Inner City Press got the "public" portion of the Fed application, and had FOIA-ed the rest (and more) from the Board. And from the OCC? Nothing. Nothing at all. When will this change?
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