by Matthew Russell Lee, Patreon Book Substack
SOUTH BRONX, NY Feb 5 – When 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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