by Matthew Russell Lee, Patreon Book Substack
SOUTH BRONX/SDNY, Dec 8 – Associated Banc-Corp, with a track record of disparate lending and consumer complaints, now proposes to expand into Nebraska and Iowa by taking over American National Bank.
Fair Finance Watch, while the Federal Reserve refuses to act to ensure public access to Home Mortgage Disclosure Act data, notes the 2024 HMDA data of Associated National Bank, starting in Wisconsin: it denied more mortgage applications from African Americans, 90, than it made loans to African Americans, 86. Meanwhile it made fully 4243 loans to whites, while denying only 1430 loans. On December 1 we said we would have more on these troubling disparities, including under the Community Reinvestment Act - and now we do.
On December 8 Fair Finance Watch filed with the Fed:
This concerns the proposal by Associated Banc-Corp to acquire and merge with American National
This is opposition at the earliest possible time. In light of a recent proposal in which only the OCC is considering a multi-billion merger, we are submitting this to the FRB as soon as possible. Please immediate inform FFW if Associated is applying to the FRS, and consider this comment on any and all Associated applications.
Associated Bank NA in Minnesota in 2024 made 414 mortgage loans to whites, and only 18 to African Americans. Meanwhile it denied TWENTY applications from African Americans, and only 163 from whites.
Associated Bank NA in Illinois in 2024 made 690 mortgage loans to whites, and only 136 to African Americans. Meanwhile it denied 105 applications from African Americans, and only 367 from whites.
Now Associated wants totake its branch closing ways to new states despite, for example, Associated has closed many branches - here in the past year and a half, nothing but closings, etc.
Watch this site.
***
Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.
Feedback: Editorial [at] innercitypress.com
