| Before FNB Settled on Fair
Lending Its Yadkin Merger Was
Challenged But Fed Approved It
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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