Two consumer groups are asking federal regulators to block Citizens Financial Group’s proposed acquisition of Mellon Financial Corp.’s retail banking business, claiming Citizens has disproportionately denied loans to minorities.
The Inner City Public Interest Law Center and the Delaware Community Reinvestment Action Council filed a complaint Monday with the Federal Reserve (news – web sites) Board, the Federal Deposit Insurance Corp., and state regulators in Delaware, Maryland, Massachusetts and New Jersey.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
Learn More
The 12-page challenge asks federal regulators to deny Citizens’ application to acquire 345 Mellon branches in Pennsylvania, Delaware, New Jersey and Virginia. The $2.1 billion deal, scheduled to close this year, would make Citizens one of the nation’s 20 largest commercial banks.
