| Lakeland Bank DOJ
Deal Left Disparities in
NY So Protest now
Provident Speaks
Ignoring SVB
by
Matthew Russell Lee, Patreon Book
Substack
SOUTH BRONX, NY,
March 15 – When
the US
Department of
Justice sued
and
immediately
settled with
Lakeland Bank
for fair
lending
violations, it
announced a
proposed
merger with
Provident
Bank.
As if to sweep it
under the carpet.
And when Fair
Finance Watch looked into it,
it found that the DOJ
settlement did not address in
any way the banks' disparities
in New York. So on December 1,
the FDIC's comment deadline,
it filed a protest, with Inner
City Press on the FOIA.
Jump cut to March
15, 2023, when Provident's
Deputy General Counsel filed a
letter with the New York Fed,
cc-ing Rodgin Cohen - only on
New Jersey, nothing on the
disparities in New York.
Particularly amid the failures
of Silicon Valley Bank and
Signature Bank, this ill-fated
proposed merger should be
scrapped. These dubious
regulators should not be
allowed to approve any more
mergers until there is
accountability. Watch this
site.
***
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