Next City, March 12, 2024, Why The Community Reinvestment Act Is Back In The News – Again
Over at Fast Company, financial journalist James Surowiecki writes that the Capital One-Discover merger could be a boon for consumers and business owners, who could see lower swipe fees with the addition of a larger competitor to Visa and MasterCard. But bank watchdogs, consumer rights, and civil rights groups remain unconvinced, with 18 signatories so far to a letter detailing numerous concerns that include what they view as violations of the Community Reinvestment Act as well as potential violations of federal anti-trust laws.
