Anti-discriminatory safeguards sought in bank merger

Описание: Advocacy groups including New Jersey Citizen Action joined Newark Mayor Ras Baraka Tuesday in asking the Federal Reserve to require a Community Reinvestment Act agreement as a condition of a merger of Lakeland Bank with Provident Bank. In Sept. 2022, the U.S. justice dept. entered into a $13M Consent Order with Lakeland Bank for a pattern of lending discrimination by redlining in the Newark area.

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