| Cadence Bank Faced Fair
Lending DOJ Charge Inner City Press Told Fed
Now Proxy Delay
By Matthew
Russell Lee, Patreon
FEDERAL COURT /
BRONX, Dec 30 -- How out of
control is the merger rubber
stamping of the U.S. Federal
Reserve and other regulators,
even as they are ostensibly
working to improve?
Today it's
reported that Cadence Bank is
looking to settle with DOJ on
lending discrimination. But
Inner City Press / Fair
Finance Watch protested
Cadence to the Federal Reserve
in 2018 - and the Fed approved
the merger.
Inner City Press
/ Fair Finance Watch wrote:
"timely first comment on, the
Applications of Cadence
Bancorporation, Houston,
Texas; to acquire State Bank
Financial Corporation,
Atlanta, Georgia, and thereby
indirectly acquire State Bank
and Trust Company, Macon,
Georgia As an initial matter,
this is a request that the FRS
immediately send by email to
Inner City Press all
non-exempt portions of the
applications / notices for
which the Applicants have
requested confidential
treatment.
Fair Finance
Watch has been tracking
Cadence Bank: In 2017 in the
Dallas, Texas MSA for
convention home purchase
loans, Cadence made 99 such
loans to whites - and NONE,
not a single origination, to
African Americans. In 2017 in
the Houston Texas MSA for
convention home purchase
loans, Cadence made 236 such
loans to whites - and only 15
to African Americans, and only
23 to Latinos. This is not in
keeping with the aggregate,
which made 37,128 such loans
to whites, 3151 to African
Americans and 8215 to
Latinos.
In 2017 in the
Birmingham, Alabama MSA for
convention home purchase
loans, Cadence made 66 such
loans to whites - and only ONE
to African Americans. Even
combining in Table 4-1, it was
79 home purchase loans to
whites and only THREE to
African Americans.
This should also be address in
this proceeding, including at
the requested evidentiary
hearing: “Cadence Bank -
Racist manager 2800 Post
Oak Blvd Suite 101, Houston,
TX 77056, USA Oct 14, 2017 NOT
RESOLVED I had my 2 business
accounts at the Williams tower
location, I tried talking to
the manager about small
business loans she always
avoided me looking at me kind
of weird whenever I done
withdrawals she always asked
me why I'm taking money out
after 3 months she sent me a
Leter saying she's going to be
closing my account because I
take money out ones a week for
payroll and she didn't like
that”
This was covered
not only in Inner City Press,
here
on FOIA abuses the Fed did
nothing about, but also, for
example, Barron's,
here.
And the
Fed rubber stamped the merger.
Jump cut to
December 2024 when Cadence had
to adjourn its shareholders
meeting, to try to "solicit
proxies from preferred
shareholders in favor of a
proposal (Proposal 2) to
authorize the Cadence Bank
board of directors to
implement repurchases of stock
in accordance with Regulation
H." Watch this site.
***
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