Minority Lending: Banc One Gets A Move OnZachary Schiller
When Banc One Corp. announced last year it would acquire Arizona's Valley National Corp., the Community Reinvestment Act of 1977 was the last thing on the Ohio bankers' minds. But the Federal Reserve Board, which has to approve bank mergers, must consider whether banks meet the minority and low-income lending requirements of the CRA. Every Banc One affiliate had a community-lending rating of satisfactory or outstanding.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.