Hawaii group files suit against FleetBoston-Bank of America merger
Pacific Business
News reports:
"A federal lawsuit filed Friday on behalf of Native Hawaiians seeks to block the
multibillion-dollar merger between FleetBoston Financial Corp. and Bank of
America until $180 million in lending commitments are met. The suit wants the
Federal Reserve Board to compel Bank of America to come through on the loans,
which were ordered in 1994 and 1998 under a federal act that aims to help
Hawaiians own their homes. The Hawaii Fair Lending Coalition says the
commitments have not been upheld."
Posted: Fri - February 6, 2004 at 05:39 PM