| ABA of Large Banks
Sue CRA Reg on Day FNB Settles
on Fair Lending after CRA
Protest
by
Matthew Russell Lee, Patreon Book
Substack
SOUTH
BRONX,
NY Feb 5 – On the day a bank
that has been permitted
several mergers even as it
engaged in discrimination
settled those charges, on
February 5 "The American
Bankers Association, the U.S.
Chamber of Commerce,
Independent Community Bankers
of America, Texas Bankers
Association, Independent
Bankers Association of Texas,
Amarillo Chamber of Commerce
and Longview Chamber of
Commerce filed a lawsuit in
the Northern District of Texas
against the Federal Reserve,
FDIC and OCC."
Beyond
venue shopping, the largest
banks in the US are
responsible for the ABA
lawsuit - they are hypocrites,
on which we'll have more.
Consider: First
National Bank of Pennsylvania
applied to the Federal Reserve
to buy Yadkin bank in North
Carolina, Fair Finance Watch
challenged it on Community
Reinvestment Act and fair
lending grounds.
The Federal
Reserve, as usually, rubber
stamped the
merger. Now in
February 2024 the Justice
Department had sued and
settled with FNB on fair
lending grounds.
Inner City Press
had wanted to ask DOJ about
the Fed (including in its
recent Patriot Bank action),
but has been unable so
far. Watch this site
***
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