Welcome to Inner City Press’ Bank Beat.  We aim to scrutinize the industry, from high to low. Our other Reporters cover Community Reinvestment, the Federal Reserve, and other beats.   ICP has published a (double) book about the Bank Beat-relevant topic of predatory lending - click here for sample chapters, an interactive map, and ordering information. The Washington Post of March 15, 2004, calls Predatory Bender: America in the Aughts "the first novel about predatory lending;" the London Times of April 15, 2004, "A Novel Approach," said it "has a cast of colorful characters." See also, "City Lit: Roman a Klepto [Review of 'Predatory Bender']," by Matt Pacenza, City Limits, Sept.-Oct. 2004. The Pittsburgh City Paper says the 100-page afterword makes the "indispensable point that predatory lending is now being aggressively exported to the rest of the globe." Click here for that review; click here to Search This Site. Click here for Inner City Press' weekday news reports, from the United Nations and elsewhere, which include bank-related topics.

Click here for Inner City Press' weekday news reports, from the United Nations and elsewhere. Click here for a recent BBC piece on Inner City Press' reporting from the United Nations. New: Follow us on TWITTER   BloggingHeads.tv  Click for March 1, 2011 BloggingHeads.tv re Libya, Sri Lanka, UN Corruption by Inner City Press.  Until next time, for or with more information, contact us.

July 17, 2017

So Royal Bank of Scotland settled on the cheap with FHFA for $5.5 billion on its predatory lending and MBS sales - but look for more from the DOJ...

UN Sends to Greece Nimetz, Adviser to Firm Invested in Greek Bank Saxo, Conflict, No Breakthrough

By Matthew Russell Lee

July 10, 2017

ICC Slams South Africa For Not Arresting Bashir, IMF Cites “Weakening Governance,” Corruption

By Matthew Russell Lee

July 3, 2017

Like UN's Haiti Impunity, ICP Asks of New Srebrenica Decision, BNP on Rwanda, Shell on Ogoni 9

By Matthew Russell Lee, Video

UNITED NATIONS, June 29 – Days after UN cholera victims told Inner City Press in Haiti that the "community projects" UN Secretary General Antonio Guterres described to the Press would be useless to them, Inner City Press asked Guterres' spokesman Stephane Dujarric about a court decision that UN Peacekeepers bore responsibility for deaths in Srebrenica as well, and about human rights cases against UN Global Compact members BNP Paribas and Shell. From the UN transcript: Inner City Press: the decision in The Hague by Netherlands appeals court confirming that the partial responsibility of the Dutch battalion of UN peacekeeping in the deaths in Srebrenica.  And people are angry because it’s reduced the damages to 30 per cent; it’s basically saying they might have been killed otherwise.  But what is the UN’s response, given that the Dutch battalion was, in fact, a UN peacekeeping battalion.  What’s been learned to it, and what do you have any to say about that?

Spokesman:  Obviously, we’re aware… I think, first of all, our thoughts need to be with the victims of the massacres that took place in Srebrenica and with the relatives of the victims and the survivors and all of those who perished in the atrocities committed throughout the Former Yugoslavia.  As you know, the UN was not a party to this court case, which was in a national court in the Netherlands.  We will study the judgment carefully, but, at this point, we’re not going to make any further comment, because our… my understanding, at least, is that it will be appealed to a higher court.  And as you know, the UN issued years ago a rather exhaustive report on its failings, the Organization’s failings in Srebrenica.

Inner City Press:   But isn’t it not a party because it cited immunity early in the case?  I mean, I’ve seen the lawyer even of this current case saying that that’s why the UN’s not…

Spokesman:  Well, the fact is we’re not a party.

Inner City Press:  Two related.  One, there’s a case also in The Hague against Royal Dutch Shell by, it’s called the Ogoni nine, but it’s a case basically tying corporate responsibility to a military crackdown.  Separately, there’s a case now just begun against the Banc Nationale de Paribas [BNP Paribas] about the Rwanda genocide.  I don’t expect… you can say obviously these are not UN related, but since both seem to be members of the UN Global Compact, I wanted to know, does the UN track such high-profile human rights corporate cases? And, if so, what… are… are the institutions expected to respond?

Spokesman:  My understanding is that these cases are all ongoing, and the Global Compact, as you know, has a mechanism to deal with its own members.  So I will leave it at that...

Inner City Press:  On the Burundi thing, have you run the names through?

Spokesman:  As soon as I have something on it, I will share it.

  Nothing. Dujarric dodged questions about what the victims said, from Inner City Press. This while Guterres is recruiting a "victims' advocate" - on every issue except those the UN killed? Video here. So on June 28 Inner City Press asked Dujarric if Guterres' supposedly "new" approach to the cholera the UN brought to Haiti meant he will continue to seek impunity. From the UN transcript: at least two federal court cases about the UN having introduced cholera to Haiti.  In this case that's in Brooklyn, where they're arguing that… that the UN essentially waived the immunities that it's claiming by having a mechanism to deal with negligence, which I think most people would say this was, as opposed to intentional, is there anything in the new Secretary-General's new approach to cholera that will be reflected in a response, or is it the UN's continuing response that it bears no legal responsibility at all?

Spokesman:  Our legal position is unchanged.  The UN's effort as outlined by the Secretary-General is focusing on preventing the spread or resurgence of cholera in Haiti and helping communities in a first instance.

Inner City Press: And what's the status of his discussions with countries about the $40 million that…?

Spokesman:  I've nothing more to say than what the Secretary-General himself announced.

June 26, 2017

ICP Asks IMF About Zambia, August Answer, Nothing Yet on Haiti From Which ICP Questioned

By Matthew Russell Lee

June 19, 2017

Wells Fargo Quoted UN IFAD Official In Its Press Release, IFAD Tells ICP No Partnership

By Matthew Russell Lee

UNITED NATIONS, June 17 – On the important issue of remittances, the UN agency IFAD (the International Fund for Agricultural Development) has partnered with none other than Wells Fargo, fresh off its exposure for setting up dummy accounts without customers' consent, which had led for example New York City to stop doing new business with Wells. Not the UN - IFAD's Adolfo Brizzi appears in Wells Fargo's press release. Inner City Press asked IFAD President Gilbert Houngbo, himself a long time UN system official, about the lack of due diligence. He promised to look into it, while saying something about the UN having to respect the sovereignty of governments. Periscope video here. More than 24 hours later, IFAD in writing told Inner City Press: "Dear Matthew, I am the communications officer with IFAD at yesterday's noon briefing. I am writing with the follow up as promised. IFAD does not have a partnership with Wells Fargo. As part of the Global Forum on Remittances, Investment and Development, numerous companies as well as civil society and policymakers recognize the importance of the International Day of Family Remittances. One of our key objectives remains to do everything we can to lower remittance transfer fees to a maximum of 3% (SDG target 10.c) and to do that, we must be in dialogue with all actors involved. I noticed you already published, so I would hope that you would print the facts above in your next edition. Katie Taft
Senior Management Communications, Via Paolo di Dono 44 00142 Rome, Italy."

   So IFAD didn't approve Wells Fargo putting its name, and official's quote, in Wells Fargo's press release?  Companies can blue-wash themselves at will? Houngo also cited "transparency" - Inner City Press previously reported that while at UNDP Houngbo declined to make even basic public financial disclosure. Now the form showing his refusal has itself been taken off line. This is the UN.

June 12, 2017

After FFW Protested on Cabela, Synovus Snail Mails & Withholds Response, Here, ICP FOIAs

By Matthew R. Lee

By Matthew Russell Lee

June 5, 2017

Regulators Said Sterling's CRA Data Unreliable, Fed Expedites Now Delays ICPs FOIA, OCC Cover Up

By Matthew R. Lee, New Platform

NEW YORK, June 3 – Sterling Bank, which is applying for approvals to acquire Astoria Bank, is known by its regulators to have filed unreliable Community Reinvestment Act data from at least 2014 through 2016, a documentobtained by Inner City Press shows. The story, and outrage, has been picked up by the American Banker newspaper here, by Paul Davis and Allison Prang, crediting Inner City Press - and Sterling Bank had no comment. Instead, Sterling's outside counsel Wachtel Lipton chose to snail-mail its response to the wrong address, and not e-mail it to Fair Finance Watch. Via here, with envelope re-submitted to Fed and OCC. This while the Federal Reserve has granted Inner City Press' request for expedited treatment of its FOIA request for all records, promising the responsive documents by June 1. But now the Fed, in a June 1 letter, has unilaterally extended its time to June 22: "Dear Mr. Lee, This correspondence is to provide you with an update on the status of your FOIA request. The search for records is being completed and staff is beginning to review the search results for responsiveness and releasability.  We will continue to process your request as quickly as possible.  Accordingly, the Board hopes to be able to respond to your request, or provide a status update, on or before June 22, 2017.  Very truly yours, Jeanne M. McLaughlin Manager, Freedom of Information Office." Why expedite and then extend? Why did the OCC rush a cover-up "Satisfactory" rating? We'll have more on this. First Fed letter on Scribd, here.

May 29, 2017

Merger proposals we are watching: Sandy Spring Bancorp proposal to pay $489 million to WashingtonFirst...

ICP Asks IMF About Saudi - Blackstone Deal, and Possible Extension for Ghana, Cameroon

By Matthew Russell Lee

UNITED NATIONS, May 25 – When the International Monetary Fund resumed its biweekly embargoed press briefings on May 25, Inner City Press asked about Saudi Arabia (and Blackstone), Ghana and again Cameroon.IMF Spokesperson Gerry Rice read out Inner City Press' question, "On Saudi Arabia, what is the IMF's view of the interaction between the country's sovereign wealth fund's deal with Blackstone and the warning that rapid cuts to the government’s budget deficit could damage the economy?" Rice replied that the IMF views the Blackstone deal as an attempt to diversity internationally, and not related to domestic deficit reduction (transcript will be on IMF's website. Inner City Press also asked, "amid reports that Ghana will agree to extend the IMF program in return for a bigger credit facility, what is the IMF's position on the government's speed in meeting the objectives of the program?" Rice acknowledged that the IMF and Ghana are discussing an extension but said it would require a formal request by the country; he said a key objective is to key public debt on a continuing downward path. On Cameroon (and Yemen and the UN's "Financing for Development" outcome documents), no answers yet. Watch this site. From the IMF's May 11 transcript, of its Deputy Spokesperson Willam Murray: "I’ve got a question from Inner City Press on Sri Lanka. Do recent government moves on the Inland Revenue Act make it more likely the IMF Board will act on the request for completion of the second loan review in June and make a third disbursement? Again, it’s a question about Sri Lanka and the Inland Revenue Act and the likelihood of completing the second review. We had a staff level agreement in Sri Lanka on May 3rd, last week. We noted in announcing that agreement that it’s subject to completion of a prior action by the authorities, which is submission of the Inland Revenue Act to Parliament. And that was a prior action that was agreed earlier this year. Our legal experts are still analyzing the content of the new draft bill, and are in discussions with the Sri Lankan authorities. That’s where we stand at the moment on Sri Lanka."

May 22, 2017

  From Steve Mnuchin's Senate Q&A, two things jumped out: he said Trump already has a permanent Comptroller of the Currency in mind. And he said the biggest banks may not be too big to fail, but too big to succeed...

May 15, 2017

ICP Asks IMF About Sri Lanka Inland Revenue Act, Here, and For Cameroon Silicon Mountain Update

By Matthew Russell Lee

UNITED NATIONS, May 11 – When the International Monetary Fund resumed its biweekly embargoed press briefings on May 11, Inner City Press asked about Sri Lanka and Cameroon, among others. From the IMF's transcript, of its Deputy Spokesperson Willam Murray: "I’ve got a question from Inner City Press on Sri Lanka. Do recent government moves on the Inland Revenue Act make it more likely the IMF Board will act on the request for completion of the second loan review in June and make a third disbursement? Again, it’s a question about Sri Lanka and the Inland Revenue Act and the likelihood of completing the second review. We had a staff level agreement in Sri Lanka on May 3rd, last week. We noted in announcing that agreement that it’s subject to completion of a prior action by the authorities, which is submission of the Inland Revenue Act to Parliament. And that was a prior action that was agreed earlier this year. Our legal experts are still analyzing the content of the new draft bill, and are in discussions with the Sri Lankan authorities. That’s where we stand at the moment on Sri Lanka."

May 8, 2017

Some mergers we are looking at, feel free to contact ICP or FFW:

May 4: Tenn. based First Horizon National Corp proposes to acquire Charlotte NC-based Capital Bank Financial Corp.  in a $2.2 billion deal;

May 1, 2017

 A merger we are looking at: Columbia, S.C.-based South State Corp. says it will acquire Charlotte, N.C.-based Park Sterling Corp for $690.8 million to create a new company with $14.5 billion in assets, $11.5 billion in deposits and $10.4 billion in loans. We'll see.

April 24, 2017

By Matthew Russell Lee

UNITED NATIONS, April 21 – When at the International Monetary Fund's Spring Meetings the IMF held its Middle East and Central Asia press conference, Inner City Press submitted this question: "Please describe the IMF's view and possible plans on Yemen, given the crisis there, including on President Hadi's proposed moving of the Central Bank out of the capital to Aden. What is the IMF's view of and any assistance to the Central Bank's performance?" After the briefing, the IMF provided this answer: "The humanitarian and economic impact of the conflict has been devastating; it has caused many deaths, depressed economic activity, and destroyed much of Yemen’s infrastructure. There is now even a tangible risk that the conflict could lead to famine in some parts of Yemen. Yemenis food supply relies largely on imported staples, like wheat and rice. Yemen needs urgently foreign exchange grants from donors to pay for imported food. But Yemenis also need to be able to buy the food that is imported. Resuming paying public salaries and social assistance grants in all of Yemen is therefore also urgently needed. Given these needs, the Central Bank of Yemen (CBY) could be the pivotal player for facilitating food imports and for resuming paying public salaries and social assistance grants in all of Yemen. But to play this humanitarian role, the central banks in Aden and Sana’a need urgently to find a way to cooperate in the interest of providing sufficient food to all Yemenis.  Fund engagement is currently limited. We support the Yemeni authorities and the international community to the best of our abilities.The Fund stands ready to re-engage more fully as soon as the conflict is resolved to help rebuild economic institutions, jumpstart growth, and stabilize the economy."

April 17, 2017

 Also looking at this merger, and Wells Fargo branch closings:  New Jersey: Sussex Bancorp proposes to buy Community Bank;

April 10, 2017

   Fair Finance Watch and others opposed Capital One buying the deposits and credit card business of Cabela's bank -- but now it's said Synovus of Columbus, Georgia might take the deposits and immediately transfer the credit card business to Capital One without any CRA review. Meanwhile the Federal Reserve quietly reduced the time of its review of mergers for financial stability, and denied a request for reconsideration.  A deal that had stalled out has been revived: Canadian Imperial Bank of Commerce has "sweetened its bid" for PrivateBancorp - there are predictions of more Wall Street mergers, as well as a strange bipartisan move to limit the size of the largest banks... Some mergers we are looking at:

April 3, 2017

After Capital One Failed on Cabela, Synovus Scam Emerges, To Evade CRA, FFW Opposes

By Matthew R. Lee

NEW YORK, March 30 – Two months after Inner City Press reported Capital One failing in its proposal to acquire Cabela's "World's Foremost Bank," now a way to try to avoid the regulators and Capital One's Community Reinvestment Act record has emerged. The scam would involve Synovus buying the bank then passing one the credit card receivables to Capital One, while keeping the deposits, so Capital One wouldn't be reviewed under CRA. The Fair Finance Watch will oppose this, trying to ensure that another bank merger challenged by Fair Finance Watch fails. In December it was Astoria's proposed take over by NY Community Bancorp, here. Soon, Sterling.

   In January, disparate lender Investor Bancorp, on which Fair Finance Watch previously got a condition imposed saw its proposal with Bank of Princeton fall apart.

  And now it's Capital One - Cabela, on which Inner City Press commented: "In the New York City MSA in 2015, the most recent year for which HMDA data is available, for conventional home purchase loans Capital One denied the applications of whites 23% of the time, while denying African Africans fully 45% of the time, and Latinos even more, 46% of the time. This is unacceptable.

  Meanwhile, Capital One is “closing branches in Laurel, Gaithersburg, Frederick and Merrifield.”

March 27, 2017

ICP Asks IMF About Belarus Letters & Talks, Cameroon Silicon Mountain Internet Cut

By Matthew Russell Lee

UNITED NATIONS, March 23– When the International Monetary Fund held its biweekly embargoed press briefing on March 23, Inner City Press asked Spokesperson Gerry Rice about Belarus, Cameroon and other issues. On Belarus, Inner City Press asked: "requests have been publicly made to write to head IMF mission to Belarus Peter Dolman and advisor of the IMF mission in Minsk Julia Lysko to NOT give loans to the government. Has the IMF received such letters? If so, how many, and what weight does it give them and the issues raised in them?" Rice read out the question, then said he's not aware of any letters being received, but is aware of a petition from press reports. He said the IMF met Belarus' presidnet on March 16 and talks about a program will continue up to the IMF's Spring Meetings in April.

March 20, 2017

After FFW Protest, Fed Sends Community Bank System Lending Qs, CEO Tryniski Trashed CRA

By Matthew R. Lee

NEW YORK, March 13 – At what point does bank executives' spin to investors and the media become more than misleading? Take Community Bank System (NYSE: CBU), which has now received on March 13 consumer lending questions on top of the nine earlier questions from the Federal Reserve on its proposal to acquire Merchants, after its CEO derided issues Fair Finance Watch raised about the proposal.

 On March 13, the Fed asked CBU: "In connection with the application by Community Bank System, Inc. (“Community”), DeWitt, parent company of Community Bank, National Association (“Community Bank”), Canton, both of New York, to merge with Merchants Bancshares (“Merchants”), and thereby acquire Merchants Bank, both of South Burlington, Vermont, pursuant to section 3(a)(5) of the Bank Holding Company Act of 1956, 12 U.S.C. § 1842(a)(5), Federal Reserve staff requests the following additional information:
 
1.       Provide an update on Community Bank’s Community Reinvestment Act (“CRA”) activities and efforts since its July 27, 2016 CRA Performance Evaluation.  In your response, address the activities in the bank’s assessment areas under each of the lending, investment, and service tests.
 
2.       Regarding consumer lending products:

a.       reconcile page iv of the Bank Merger Act (“BMA”) application, which states that Merchants Bank currently offers consumer loans, with page xiv of the BMA application, which states that Merchants Bank does not currently offer consumer lending products and services; and

b.      explain how the consumer lending products and services offered by Community Bank, including overdraft lines of credits, are enhanced compared to Merchants Bank’s offerings."

  On its last proposal, CBSI bad-mouthed a Community Reinvestment Act protest even as it had to delay its Oneida deal. First, CBSI's "Hal Wentworth said that Inner City Press is not a local group and pointed out that letter was the only one filed on the Oneida deal. 'This activist does not do business with either Oneida or Community Bank, but nonetheless made vague allegations regarding Community,' Wentworth said. 'These allegations were entirely without merit and will be fully addressed by Community Bank and Oneida Savings in the application process.'" Then the deal was significantly delayed, with CBSI pushing the date back.

  More spin:  CFO Scott Kingsley told the media that FFW's protest "is not the sole reason. We have other things that have to sequentially happen to get to the technological conversion in July. When we did not have a definitive answer from the Fed or other parties last week, that put the technological conversion at risk, so we opted not to go ahead.”

March 13, 2017

Mergers we are looking at (beyond Sterling - Astoria), followed by IMF on Cameroon:

March 1, Louisiana into Florida for $1 billion: IBERIABANK Corporation proposes to acquire Sabadell United Bank, N.A. from Banco de Sabadell, S.A. for $1.025 billion;

IMF Tells Inner City Press Risks In Cameroon in 2017 Include "Events" in Anglophone Areas

By Matthew Russell Lee

UNITED NATIONS, March 9– When the International Monetary Fund's spokesperson Gerry Rice took questions at the IMF's biweekly media briefing on March 9, Inner City Press asked about Cameroon, specifically the crackdown in the northwest and southwest of the country. Inner City Press asked, "On Cameroon, after the mission led by Corinne Delechat, what is the status of talks for a program, and since the IMF cited “civil unrest in the neighbouring Central African Republic,” please state the IMF's awareness of civil unrest and arrests in Northwest and Southwest Cameroon, also known as the Anglophone areas, and their impact." Rice read out the question and then said, among other things, that the risk factors for 2017 include a continuation of the "social and political events" in the "so-called Anglophone" areas of Cameroon. Interim video here. On IMF site, here, from 34:56. IMF transcript:

"There is a question of Cameroon, from Matthew Lee, "After the Mission what is the status of talks for a program; and since the IMF cited civil unrest in the neighboring Central African Republic, please state the IMF's awareness of civil unrest and arrests in Northwest and Southwest Cameroon? And also known as the Anglophone areas, and their impact?"

So, the background here is, I think important the context. So, the Fund's engagement here in the CEMAC Region, CEMAC is the six Central African Economic nations that comprise the Central African Economic and monetary community. They met in Yaoundé on December 23rd. The Managing Director was there. And in that meeting, heads of state discussed the economic situation, the severe shocks that have hit that CEMAC region in recent years, including the sharp decline in oil prices, and decided to act collectively and in a concerted manner. And the heads of state requested the assistance of the IMF to design economic reforms needed to reestablish macroeconomic stability in each country and in the region as a whole.

So, again, context: I can tell you that the funders already sent missions to Gabon, Republic of Congo. And a reminder to you, that we already have programs with Central African Republic and Chad. Okay?

Now, we also have sent a mission to Cameroon, which is the question. And we did issue a press statement, which the question referred to, just on Tuesday. That was the Corrine Delechat reference.

So, the specific question, to turn to that. We are indeed aware of the events in the so-called Anglophone regions of Cameroon. The macroeconomic impact of any event that could affect production and/or consumption, is typically felt with a certain lag. So, these events started in November last year, and thus are likely to have not had a significant impact on production in 2016.

For 2017, the risks to our growth outlook include a combination of external and domestic factors, including continuation of the sociopolitical events in the northwest and southwest regions of Cameroon. And as our press release the other day indicated, our view is that the medium-term outlook for the Cameroonian economy remains positive, subject to the implementation of appropriate policies."

March 6, 2017

In Indiana, "Another Fort Wayne bank is being swallowed. Independent Alliance Banks Inc., the holding company of iAB Financial Bank, is being acquired by First Merchants Corp. of Muncie in a deal worth about $250 million...It’s unclear how many local jobs could be lost in the consolidation of back-office operations." We'll see.

February 27, 2017

IMF Tells ICP No Talks with Nigeria of Program, Day After UN Sounded Alarm

By Matthew Russell Lee

UNITED NATIONS, February 9– When the International Monetary Fund's spokesperson Gerry Rice took questions at the IMF's biweekly media briefing on February 23, Inner City Press asked about the alarm sounded the day before by UN Secretary General Antonio Guterres about humanitarian crises in South Sudan, Nigeria, Somalia and Yemen. Rice answered Inner City Press, specifically on South Sudan and Nigeria.

  Inner City Press asked, "On February 22 the United Nations appealed for $4.4 billion for humanitarian crises in Nigeria, South Sudan, Somalia and Yemen. Please state what the IMF is currently doing with regard to these four countries. In Nigeria, Finance Minister Kemi Adeosun has said the country will not apply for an IMF program. What does this say about Nigeria, the UN's appeal, or the IMF?"

  Rice confirmed that there are no negotiations with Nigeria for a program - this while the UN says there is a humanitarian crisis there. He cited the upcoming 2019 elections. Rice said the UN is offering help to the South Sudan authorities, and that famine would exacerbate suffering. From the IMF's February 23 transcript:

February 20, 2017

Heartland Financial's Denver-based Centennial Bank is proposing to acquire Aurora's Citywide Banks ....

February 13, 2017

Fall-out: The buyer of Delaware County Bank says 58 jobs will be eliminated at the Lewis Center bank’s headquarters as the companies prepare to merge operations. Pennsylvania’s First Commonwealth Financial Corp., which last year agreed to a $106 million purchase of Delaware County Bank parent DCB Financial Corp. (OTC PINK: DCBF), is planning two rounds of job cuts at 110 Riverbend Ave., according to a required disclosure with the Ohio Department of Job and Family Services.

February 6, 2017

  The branch closing are coming fast and furious. Scandal plagued Wells Fargo is set to close 400 by 2018; the Huntington closures are looming, starting with 39. FFW protested the latter and will the former - watch this site. Here are other mergers we are looking at:

February 1, Maryland: Old Line Bancshares announced a proposal to acquire DCB Bancshares and Damascus Community Bank;

January 30, 2017

  After Fair Finance Watch got a CRA condition imposed on Investors Bancorp when it bought Roma, now Investors next proposal, to buy Bank of Princeton, has fallen apart.

January 23, 2017

Simmons First replies to Fair Finance Watch that it will consolidate HCIC branches, but doesn't say which ones..

January 16, 2017

Some proposed mergers we are looking at

January 9, 2017

 Capital One's application to buy Cabela's grandiosely named "World's Foremost Bank," subject to comments and requests for extensions, is a strange one: Inner City Press is informed that Cabela's announced that Capital One said that they didn't think they could get OCC approval before early October 2017. We hope to have more on this.

January 2, 2017

So Bank of Hope operates 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama - it's closing nine, it says...

December 26, 2016

We timely filed this:

On behalf of Inner City Press/Fair Finance Watch (ICP), this is a timely first comment opposing and requesting an extension of the OCC's public comment period on the Application by CAPITAL ONE NA to acquire the “WORLD'S FOREMOST BANK”

This comment is timely.

In the New York City MSA in 2015, the most recent year for which HMDA data is available, for conventional home purchase loans Capital One denied the applications of whites 23% of the time, while denying African Africans fully 45% of the time, and Latinos even more, 46% of the time. This is unacceptable.

Meanwhile, Capital One is “closing branches in Laurel, Gaithersburg, Frederick and Merrifield.” See, for the record, http://www.bizjournals.com/washington/news/2016/05/04/heres-how-much-capital-one-is-spending-this-year.html

Fair Finance Watch joins in the comments on NCRC, and will submit further comments in the extended comment period. On the current record, Capital One's application(s) should be denied.

December 19, 2016

Some proposed mergers we are watching: