Judge dismisses suit against bank merger
Pacific Business News
reports
that "Native Hawaiians have lost a bid to ensure their loan needs will be met
when Bank of America merges with Fleet Boston Financial Corp. later this spring.
Federal Judge David Ezra dismissed a lawsuit Tuesday afternoon brought by Native
Hawaiians who allege Bank of America has not complied with Federal Reserve Board
orders made in 1994 and 1998 to offer $150 million in low-income loans to buy
Hawaiian homesteaded properties. The suit named Fed Chairman Alan Greenspan and
several members as defendants. It sought a preliminary injunction to halt the
merger. Ezra said his dismissal reflected his lack of jurisdiction. But during
last week's court hearing on the matter, he urged the Federal Reserve Board to
listen to Hawaiians' needs. 'It would appear the board is ignoring the one tool
it has,' Ezra told the board's staff attorney, who attended the hearing via
video conferencing. That tool, Ezra said, would be to block the
merger."
Posted: Wed - February 25, 2004 at 07:36 PM
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is about Hawaii's status as an independent country under prolonged illegal occupation by the United States, and the history, culture, law & politics of the islands.
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By Scott Crawford - Hana, Maui
And about East Maui kalo farming and other projects. Plus popoki pics (cats).
By Scott Crawford - Hana, Maui
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