| CRA Litmus
Test Looms on M&T People's Proposal on
Money Laundering Plus Redlining
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- ESPN
FEDERAL COURT / S
Bronx, Feb 22 – Whether or not
the U.S. Community
Reinvestment Act will be again
enforced until the new
Administration and its
regulators is an open
question. And the proposed
merger of two redlining banks,
M&T and People's United,
will be the litmus test.
On the
32nd day of the new
Administration, the banks
announced a proposed merger.
Fair Finance Watch with Inner
City Press exposed M&T as
a redliner as well as money
launderer; the first label
applies to People's United as
well.
So what
willl the regulators in this
ostensibly new world do? CRA
protests will be filed, after
FOIA requests. And it will be
a, even the, litmus test.
Watch this site.
Meanwhile
in Federal court, PNC Bank and
its Midland Loan Services have
been sued for usury, predatory
lending and civil conspiracy,
under New York and Federal
law.
***
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