| As FS
Bancorp Tries Buy Pacific West
Bank in Oregon Fair Finance
Watch Challenges to FRB
by
Matthew Russell Lee, Patreon Book
Substack
SOUTH
BRONX/SDNY,
May 29 – FS Bancorp proposes
to expand in Oregon by buying
Pacific West Bank there.
Fair
Finance Watch, after the
Federal Reserve refused to act
to ensure public access to
Home Mortgage Disclosure Act
data, has commented to
the Fed on the 2024 HMDA data
of FS Bancorp:
This is early opposition
to the application of FS Bancorp, Inc., to
acquire Pacific West Bancorp, and Pacific West
Bank.
In Washington State in 2024, FS
Bancorp's 1st Security Bank of Washington made
929 loans to whites, with only 59 denials-
versus only NINETEEN to African Americans,
while denying one.
Evidentiary hearings are
needed on this application.
There are consumer complaints,
but the FRB has declared that
even CFPB database complaints,
no matter the volume, are not
"substantive." We disagree -
and ask for a hearing on these
issues as well.
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