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Sen. Amy Klobuchar (D-Minn.) Sept. 14 introduced two bills intended to “modernize” antitrust enforcement, including a proposal to require big merging companies to prove their tie-ups won’t harm competition... One of Klobuchar’s proposals would shift the burden of proof for companies involved in “mega-mergers,” a term that the bill doesn’t define. Merging companies would have to prove to regulators that their deal doesn’t harm competition. Currently, it works the opposite way. Regulators are required to prove that a proposed merger is likely to harm competition to stop it.... The measure also would add the term “monopsony” to the Clayton Antitrust Act so that single buyers controlling a market would be illegal. The bill would create an “Office of the Competition Advocate” to help consumers with complaints, encourage antitrust investigations, and analyze and publish reports on merger activity.

September 11, 2017

UNreal that he was portrayed as a strong regulator... "Stanley Fischer submitted his resignation Wednesday as Vice Chairman and as a member of the Board of Governors of the Federal Reserve System, effective on or around October 13, 2017. He has been a member of the Board since May 28, 2014."

September 4, 2017

By Matthew R. Lee, New Platform

August 28, 2017

Watchdogging Fair Lending Evasion, FFW Challenges Redliner BancorpSouth at FDIC

By Matthew Russell Lee

South Bronx, New York, August 26 – The lack of seriousness in US bank regulation, the mechanical repeating of whatever a challanged bank says, is exemplified by the application by BancorpSouth, which Inner City Press / Fair Finance Watch challenged on disparities and which settled racial redlining charges, to drop its Federal Reserve charter and evade regulation. Now ICP/FFW has timely protested that application to the FDIC: "Dear Regional Director Elmquist, Ass't Regional Director Finnegan and others at the FDIC: "This is a first timely comment opposing, requesting hearings and an extension of the comment period on BancorpSouth's cynical application to evade regulation after its redlining and settlement. Inner City Press / Fair Finance Watch protested the applications of BancorpSouth to merge with Ouachita Bancshares Corporation and thereby indirectly acquire Ouachita Independent Bank, and with Central Community Corporation, and thereby indirectly acquire First State Bank Central Texas, Austin, Texas. - based on racial discrimination in lending... Now BancorpSouth makes this application, and its CEO Dan Rollins states that it wants to “alleviate... regulatory oversight,” and become the “only state-chartered bank not a part of the Federal Reserve system.” We oppose this cynical evasion, particularly by one of the few banks having settled redlining charges. Let's compare: reviewing the 2015 HMDA data released by the FFIEC, ICP examined BancorpSouth's conventional home purchase lending in the Jackson, Mississippi and Baton Rouge, Louisiana and finds them troubling. In 2015 in the Jackson MS MSA for conventional home purchase loans, BancorpSouth made 346 loans to whites, only 53 to African Americans. BancorpSouth's denial rate for whites was 7% while for African Americans it was 19% -- 2.71 times higher. This was troubling. In 2015 in the Baton Rouge LA MSA for conventional home purchase loans, BancorpSouth made 47 such loans to whites and NONE to African Americans, even less than the three it made in 2012. BancorpSouth has grown more disparate. ICP is requesting evidentiary hearings and that this proposed acquisition, on the current record, not be approved. There is no public benefit."

August 21, 2017

Inner City Press / Fair Finance Watch has filed this: This is a timely first comment opposing and requesting an extension of the FRS's public comment period on the Application by South State Corporation to acquire Park Sterling Corporation, and thereby indirectly acquire Park Sterling Bank.

Fair Finance Watch has reviewed applicant South State's home purchase lending in three MSAs in three states - its heardquarters in Colombia SC, the targets Charlotte NC, and Atlanta GA - and finds serious disparities militating for evidentiary hearings and the denial of this application.

And, significantly, the specifics of which branches would be closed have not been publicized.

In the Atlanta, Georgia MSA in 2015 for home purchase loans, South State denied the applications of African Americans and Latinos 4.23 times more frequently than the applications of whites. Its lending did not reflect the market or other lenders: 54 home purchase loans to whites, only two to Latinos, and only ONE to an African American applicant. This is disparate.

In the Colombia SC MSA in 2015 for home purchase loans, South State denied the applications of African Americans 2.79 times more frequently than the applications of whites, and denied the applications of Latinos' 3.75 times more frequently than whites. Its lending did not reflect the market or other lenders: 179 home purchase loans to whites, only ten to African Americans and only one to a Latino applicant. This is disparate.

In the Charlotte NC MSA for home purchase loans in 2015, South State denied the applications of African Americans 2.22 times more frequently than the applications of whites, and denied the applications of Latinos' 6.58 times more frequently than whites. Its lending did not reflect the market or other lenders: 382 home purchase loans to whites, only thirteen to African Americans and only four to Latino applicants. This is disparate, and a pattern militating for evidentiary hearings and the denial of this application.

Meanwhile, see http://www.gastongazette.com/news/20170728/park-sterling-bank-head-says-merger-will-bring-little-fallout-for-gaston-employees: “employees in any branch that closes or is affected might have to relocate to keep their job, to places, for example, such as Charleston, South Carolina... Since last year, Park Sterling had been carrying out a local expansion that involved consolidating back-office operations and bringing jobs from South Carolina to Gastonia. Cherry said their branches on Main Avenue and South New Hope Road have seen the effects of that, and one of the decisions essentially made prior to the announced merger was to close the Main Avenue branch. 'It has limited hours and is really just handling commercial customers,' said Cherry. 'That was likely going to be closed as a result of our moves beforehand.'” South State should be asked for information and criteria about the closings and the comment period must be extended to allow entry of this information into the record and to allow comment thereon.

On the current record, hearings should be held and the application(s) should not be approved. The comment period must be extended.
August 14, 2017

Passing the buck? "A proposed guidance addressing supervisory expectations for boards of directors at banks and holding companies, published by the Federal Reserve Board this week, suggests that expectations for boards and senior management have become increasingly difficult to distinguish"

August 7, 2017

  Inner City Press / Fair Finance Watch last week filed this: "This is a timely first comment opposing and requesting an extension of the FRS's public comment period on the Application by Sandy Springs Sandy Spring Bancorp to acquire WashingtonFirst Bankshares, WashingtonFirst Bank and lst Portfolio, Inc., Fairfax, Virginia.

These transaction raises troubling Community Reinvestment Act issues. Sandy Spring has a disparate lending record, as does WashingtonFirst.

And, significantly, the specifics of which branches would be closed have not been made public, see below. The comment period must be extended.

In the Baltimore MSA in 2015 for home purchase loans, Sandy Spring denied the applications of African Americans TWENTY TWO times more frequently than the applications of whites. For refinance loans in the Washington MSA, Sandy Spring denied the applications of African Americans 8.8 times more frequently than the applications of whites. In the Washington DC MSA in 2015 for home purchase loans, Sandy Spring denied the applications of African Americans 2.8 times more frequently than the applications of whites.

In the Washington DC MSA for home purchase loans in 2015, WashingtonFirst made 13 loans to whites and NONE to African Americans or Latinos (there were similar zeroes for people of people for home improvement loans).

Meanwhile, see http://wtop.com/business-finance/2017/05/sandy-spring-buying-washingtonfirst-becoming-largest-locally-based-community-bank/: “Sandy Spring said there will be branch closings as part of the merger, though it says it is too soon to determine where overlap will require closings.” That is not acceptable: Sandy Springs should be asked for information and criteria about the closings and the comment period must be extended to allow entry of this information into the record and to allow comment thereon."

July 31, 2017

Fed and Synovus Talked "Confidential Supervisory Matter" July 21, on Cabela Application

By Matthew R. Lee, Full Doc on Patreon Here

NEW YORK, July 28 – Two months after Inner City Press reported Capital One failing in its proposal to acquire Cabela's "World's Foremost Bank," a way to try to avoid the regulators and Capital One's Community Reinvestment Act record emerged. The scam involves 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 has now opposed this, in a filing to the Federal Reserve, below. And now the Federal Reserve has, with all formality, informed Fair Finance Watch and Inner City Press of a July 21 meeting with Synovus, to discuss a "confidential supervisory matter," Fed "memo to file, on Patreon here.

Date: July 27, 2017
To: File
From: Federal Reserve staff
Subject: Telephone Conversation with Clifford S. Stanford, Esq. and Synovus Bank Representatives re: Application by Synovus
Bank to Acquire Substantially All of the Assets and Liabilities of World’s Foremost Bank

On July 21, 2017, staff of the Board of Governors of the Federal Reserve System (Alison Thro, Jon Stoloff, Andrew Hartlage, Brian Phillips, Betsy HowesBean, and Donald Arrington) and the Federal Reserve Bank of Atlanta (Jordan Light, Juan Sanchez, Sabrina Francis, Dwight Blackwood, Steve Wise, and
Kathryn Hinton) had a telephone conversation with representatives of Synovus Bank (Kessel Stelling, Kevin Blair, Mary Maurice Young, and
Allan E. Kamensky), Columbus, Georgia, and Clifford S. Stanford and Mark Kanaly, counsel for Synovus Bank, in connection with the application filed by Synovus Bank to acquire substantially all of assets and liabilities of
World’s Foremost Bank, Sidney, Nebraska, pursuant to section 18(c) of the Federal Deposit Insurance Act.

Staff discussed a confidential supervisory matter with Mr. Stanford and the Synovus Bank representatives." See here.

July 24, 2017

While Fed & OCC Paper Over Sterling's CRA Scam, Otting & Quarles In Senate July 27

By Matthew R. Lee, New Platform

July 17, 2017

While Federal Reserve Papers Over Sterling's CRA Scam, Quarles Nominated as to Board

By Matthew R. Lee, New Platform

July 10, 2017

Regulators Said Sterling's CRA Data Unreliable, Under FOIA Fed Blacks-Out Most of 400 Pages

By Matthew R. Lee, New Platform

NEW YORK, July 8 – 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 document obtained by Inner City Press shows. The story, and outrage, was picked up by the American Banker newspaper here, by Paul Davis and Allison Prang, crediting Inner City Press - and Sterling Bank had no comment. Inner City Press immediately on May 13 submitted a Freedom of Information Act request to the Federal Reserve. The Fed repeatedly extended its time to respond then finally on July 7 provided more than 400 pages - almost entirely redacted. All references to the unreliable CRA data (and needs to improve rating) have been redacted. Sample here; the rest on Patreon, here. Inner City Press immediately submitted a FOIA appeal: "Amazingly, despite taking seven weeks to respond to ICP's immediate FOIA request, all information about this consumer compliance / CRA issue has been redacted from the records produced. CRA and CRA data are presumptively of public interest and public impact. The redacted response implies that the public could be entirely excluded from the FRS' review of this important CRA issues. It is unacceptable and inconsistent with the purpose, spirit and letter of FOIA. ICP is hereby appealing each and every redaction in the records belated provided to ICP on July 7. This should be ruled on before the comment period closed; the comment period should be extended." Watch this site.

July 3, 2017

Regulators Said Sterling's CRA Data Unreliable, Now Admits Needs to Improve 2017, Denial?

By Matthew R. Lee, New Platform

NEW YORK, July 1 – 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. Now another snail-mailed response from Sterling's Wachtel, which we've put online here on Patreon: "Please see Exhibit 1 and Confidential Exhibit C" -- Inner City Press has now requested it under FOIA, but the agencies have already repeatedly extended their time. This is a scam. But crucially, even Wachtel says "Sterling did receive a Needs to Improve rating for the State of New York in Sterling Bank's most recent CRA Performance Evaluation dated January 18, 2017." We'll have more on this - the application must be denied. The OCC has now put up a roadblock to releasing the records Inner City Press has requested under the Freedom of Information Act, writing: "The purpose of this letter is to seek additional information pertaining to your recent request for information from the Office of the Comptroller of the Currency. Your request dated May 13, 2017 was received in my office on May 15, 2017. You requested any and all records related to Sterling Bank's application(s) to acquire Astoria and Sterling Bank's CRA data. Upon further review, we determined that we need clarification on the date range for search of Sterling Bank’s CRA data. If I have not received this information by COB June 19th I will assume that you no longer seek this information and consider your request closed." Inner City Press has responded: "   In response to Inner City Press' now month-old FOIA request concerning the CRA data the OCC knew and knows to be unreliable, you have asked that by June 19 ICP specify the date range for the request. While not understanding the OCC's delay in requesting this, we hereby timely specify that the date range is from three years ago to the date of your response. Please confirm receipt of this (including explaining your letter since you wrote “we need clarification on the date range for search”) and please provide the records as we intend to comment on them, for obvious reasons. Thank you." Meanwhile, Sterling's lawyers at Wachtell Lipton chose to snail mail their response to Fair Finance Watch, putting it in the mail three days after it was dated (now online via Patreon here.) How did it take the OCC a full MONTH to come up with its request? Why was the response snail mailed? 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 then the Fed, in a June 1 letter, unilaterally extended its time to June 22. First Fed letter on Scribd, here.

June 26, 2017

Amazingly, the Federal Reserve has for the second time extended its time to respond - to provide a single document - on Inner City Press' FOIA request about Sterling Bank's unreliable CRA data. We'll have more on this.

June 19, 2017

Regulators Said Sterling's CRA Data Unreliable, ICP on FOIA Games, Sterling Response Here

By Matthew R. Lee, New Platform

June 12, 2017 

On Brazil Land Grabs & CRA Flaws, Fed Parrots TIAA, Which Alludes To Confidential Info

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

After Fair Finance Watch Protested Synovus - Cabela, Federal Reserve Asks Synovus 7 Questions

By Matthew R. Lee

NEW YORK, May 22 –  The Federal Reserve has asked  Synovus more than a half dozen questions on May 22, on its (straw-man)  application to acquire Cabela's World's Foremost Bank, the questions annexed on May 22 here. Two months after Inner City Press reported  Capital One failing in its  proposal to acquire this   "World's Foremost Bank," a way  to try to avoid the regulators  and Capital One's Community  Reinvestment Act record  emerged. The scam involves 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 has now opposed this, in a filing to the Federal Reserve. NCRC has commented as well. We'll have more on this.

May 22, 2017

Regulators Said Sterling's CRA Data Unreliable, Sterling Mis-Sends Response, Fed Expedites ICPs FOIA

By Matthew R. Lee, New Platform

NEW YORK, May 20 – 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 document obtained 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. Fed letter on Scribd, here.

Regulators Said Sterling's CRA Data Unreliable, Sterling Mis-Sends Response, Fed Expedites ICPs FOIA, Here by Matthew Russell Lee on Scribd

On May 11, the Federal Reserve Bank of New York along with questions about about branch closures and a CRA plan required after Fair Finance Watch's previous challenge to Sterling asked: "In a letter dated December 23, 2016, from the OCC to Sterling Bank regarding the OCC's data integrity review, the OCC stated that Sterling Bank's 2014-2016 CRA data is not reliable and that Sterling Bank lacks an effective process for collecting, verifying and reporting such data. To the extent that any of the CRA data in the notice is incorrect, submit the corrected data. In addition, describe Sterling Bank's efforts to address its CRA data compliance management deficiencies."

May 15, 2017

Regulators Said Sterling Bank's CRA Data Unreliable, ICP Exposed It, FFW Demands Hearing

By Matthew R. Lee, New Platform

NEW YORK, May 12 – 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 document obtained 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 has "no comment." But Fair Finance Watch has filed additional comments to the Federal Reserve and OCC, demanding public hearings into the unreliable data AND into how the regulators were dealing with (or covering up) the issue, in stealth. We'll have more on this: the US Federal Reserve denied Fair Finance Watch's request to extend the comment period on Sterling's application, in which even the Fed suspects there is incorrect CRA data.

On May 11, the Federal Reserve Bank of New York along with questions about about branch closures and a CRA plan required after Fair Finance Watch's previous challenge to Sterling asked: "In a letter dated December 23, 2016, from the OCC to Sterling Bank regarding the OCC's data integrity review, the OCC stated that Sterling Bank's 2014-2016 CRA data is not reliable and that Sterling Bank lacks an effective process for collecting, verifying and reporting such data. To the extent that any of the CRA data in the notice is incorrect, submit the corrected data. In addition, describe Sterling Bank's efforts to address its CRA data compliance management deficiencies."

May 8, 2017

After Capital One Failed on Cabela, Synovus Applies & FFW Protests to Federal Reserve, Here

By Matthew R. Lee

May 1, 2017

After FFW Protest, Fed Cites Community Bank OCC Deal & Disparities, Rubber-stamps Merger

By Matthew R. Lee

April 24, 2017

Better late than never: "The Federal Reserve on Thursday announced two enforcement actions against Deutsche Bank AG that will require the bank to pay a combined $156.6 million in civil money penalties."

April 17, 2017

  Following the protest by Fair Finance Watch, the Federal Reserve has asked TIAA-CREF a fifth round of questions: "Provide an update on EverBank’s CRA activities since its last publicly available CRA Performance Evaluation. Your response should include any significant CRA initiatives undertaken, particularly with respect to credit and deposit products and retail banking services targeted toward low-to-moderate income geographies and individuals. In addition, provide information regarding community development lending, investments, and services in EverBank’s CRA assessment area since the last evaluation period, including the total number and dollar amount (except for community development services) and a brief description of the most significant community development loans, investments, and services." We'll have more on this.

April 10, 2017

 How sleazy is today's Federal Reserve? After they slipped a major reduction in merger reviews into a bank merger approval order, when Inner City Press / Fair Finance Watch formally challenged it in a Request for Reconsideration, the response was a voice mail that the Board has voted against the request. A phone call to ask what that meant was not returned. We'll have more on this.

April 3, 2017

ICP Timely Requests Reconsideration of Federal Reserve Loosening Merger Reviews Without Comment

By Matthew R. Lee

MAIN STREET, March 27 – The US Federal Reserve Board, which bears more than a little responsibility for the global financial crash from 2008 due to inattention to predatory lending including on mergers, has now further reduced its scrutiny of bank mergers, with little notice to date. Now Fair Finance Watch and Inner City Press has timely challenged the Federal Reserve's stealth reduction of scrutiny, in a timely request for reconsideration filed with the Federal Reserve on the evening of March 27, below. FFW and others including NCRC protested, and Inner City Press has Freedom of Information Act requests pending regarding, the application by People's United to acquire Suffolk County National Bank.

FFW showed that  in the the New York City MSA, "People's United made 82 home purchase loans to whites and NONE to African Americans or Latinos. This is redlining; this proposed acquisition could not legitimately be approved and People's United should be referred for prosecution for redlining by the Department of Justice and CFPB."

March 27, 2017

  The Federal Reserve has chosen to make it nearly impossible to track open comment periods, still listing as pending such applications as that by NY Community Bank to acquire Astoria (since superseded by Sterling). We'll have more on this.

March 20, 2017

From the Fed: "This will acknowledge receipt of your electronic message dated and received by the Board's Freedom of Information Office on March 7, 2017, in which you request, pursuant to the Freedom of Information Act (“FOIA”), 5 U.S.C. § 552, the entirety of the March 7, 2017 submission in connection with the application by Community Bank System to acquire Merchants Bank. The Board makes every effort to fulfill requests in a timely manner; however, there may be delays in fulfilling complex requests or those that require consultation."

And nothing since.

March 13, 2017

The Federal Reserve has asked Simmons:

"1. The preamble to the Agreement and Plan of Merger by and between Simmons and Hardeman dated November 17, 2016 (“Agreement”), provides that certain directors and
executive officers of Hardeman have entered into voting agreements in connection with the merger. Provide copies of the voting agreements referenced as Exhibit A to the
Agreement.

2. Provide the Target’s Disclosure Memorandum and the Buyer’s Disclosure Memorandum as referenced in the Agreement.

3. Page 1 of Simmons’s additional information response dated February 22, 2017, provide that, upon consummation of the holding company merger, Messrs. Ed Woodside, Hunter
Simmons, Mike McGregor, and Kirk Goehring would join the Simmons organization as senior management officials. Discuss whether, upon joining the Simmons organization,
any of these individuals would also serve as a director or senior management official at any other banking organization, and if so, indicate the position(s) and organization(s) at
which the individual would serve. "

March 6, 2017

We note long time Board Secretary Robert deV. Frierson, with whom Inner City Press has exchanged many FOIA and merger comment letters, is retiring - enjoy and Ann Misback taking over April 2, 2017. The FOIAs and comments will continue!

After FFW Protest, Fed Sends Community Bank System 9 Questions, CEO Tryniski Trashes CRA

By Matthew R. Lee

NEW YORK, March 2 – 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 nine additional questions from the Federal Reserve on its proposal to acquire Merchants, after its CEO derided issues Fair Finance Watch raised about the proposal.

  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.”

February 27, 2017

   The Federal Reserve, confronted even with court settlements by banks, says it was without admission of guilt. From February 24: "FNB’s overdraft practices were found to be unfair trade practices resulting in unjust enrichment as part of a class-action litigation, Ord v. First National Bank of Pennsylvania, No. 2:12-cv-00766-AJS (W.D. Pa. dismissed June 21,
2013). The case was settled without any admission of wrongdoing by the parties. Final Judgment & Order of Dismissal with Prejudice at 4–5, Ord (No. 2:12-cv-00766-AJS). " We'll have more on this.

February 20, 2017

Coulda shoultd woulda will; the Fed barely reviews unless comments received. So...

 "First Bancorp (NASDAQ - FBNC), the parent company of First Bank, reports that it has received notification from the Federal Reserve Bank of Richmond that the Company's merger application to acquire Carolina Bank Holdings, Inc. ("Carolina Bank Holdings") has been approved. All regulatory approvals have now been received, and the holding company merger date is expected to be March 3, 2017."

February 13, 2017

Governor Tarullo will leave the Fed by April 5. And who will take his place? There are still FOIA improvements needed...

February 6, 2017

The Federal Reserve has asked United Bankshares, on its protested application to buy Cardinal,

"In its January 13, 2017, Letter Responding to the Request for Additional Information, United indicates there are currently two pending litigation matters against UB WV in  which allegations have been made involving consumer protection laws. Please provide additional information about these matters, including, at a minimum, the identity of the parties, the nature of the claims, the specific consumer protection laws implicated, the current posture of the litigation, and the anticipated time frame for disposition."