Hawaii lawsuit puts hitch in big bank merger
MSNBC.com has a story on the lawsuit filed
by Hawaii Fair Lending Coalition against the Bank of America - FleetBoston
merger:Hawaii Fair Lending Coalition
"is among a group of Native Hawaiians aiming to block the multibillion-dollar
merger between FleetBoston Financial Corp. and Bank of America until $150
million in lending commitments are met. ... The suit... claims that Bank of
America has failed to uphold loan commitments designed to aid homeownership by
Native Hawaiians. It asks the Federal Reserve to compel BofA to offer the loans,
which were part of a program setup in the mid-1990s after BofA was accused of
discriminating against ethnic Hawaiians in mortgage lending."
Posted: Sat
- February 14, 2004 at 10:08 AM