| Lakeland Bank DOJ
Deal Left Disparities in
NY So Protest now Fed
Asks of DOJ Settlement
by
Matthew Russell Lee, Patreon Book
Substack
SOUTH BRONX, NY,
Aug 26– 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.
On August 22, the
Fed asked the banks:
"Department of Justice Consent
Order (“Consent Order”) 1.
Provide an update to all
action items included in the
Consent Order, reflecting
those items which have been
completed and any other
pertinent updates." As of
August 26, no response
received from these banks...
Watch this site.
***
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