| As Coastal
Bank Bancshares Tries to
Expand in Texas Disparate
Lending and Secret Fed
Questions
by
Matthew Russell Lee, Patreon Book
Substack
FEDERAL
COURT,
June 2 – Coastal Bend
Bancshares proposes to expand
in Texas by buying First
National Bank
in Port
Lavaca.
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:
This is
early opposition to the
application of Coastal Bend
Bancshares, Inc., Corpus
Christi, Texas to acquire
First National Bank in Port
Lavaca, Port Lavaca,
Texas.
First
National Bank of Port Lavaca
in 2024 made 35 loans to
whites - and NONE to African
Americans.
While
there are three HMDA-reporters
in Texas with the name First
Community Bank, Coastal
Bank's, LEI
549300L4Z4LTG4TJTM66, in 2024
in Texas made 126 loans to
whites, and NONE to African
Americans.
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.
On June 2, the
Fed asked Coastal Bend some
questions - but withheld two
of them. While less redacted
than on Enova, it is still
problematic. This while
Coastal Bend CEO W. Wes. Hoskins
wrote in that he takes no position
on Inner City Press "purported
Freedom of Information Act ('FOIA')
request." Purported? Watch
this site.
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