American Banker, January 30, 2023, BankThink There’s A Surprising Risk Lurking In The Details Of Bank Mergers
Big mergers don’t get approved today without big Community Benefit Agreements.
Big as in $100 billion in the recent U.S. Bank deal, $88 billion with PNC, and likely over $100 billion on the pending TD Bank-First Horizon merger.
These agreements are primarily organized by the National Community Reinvestment Coalition, which has been responsible for 23 CBAs totaling over $550 billion. The NCRC is a coalition of more than 600 community-based organizations around the country.
