CRA Comment letters submitted as part on the occasion of a merger or acquisition. Woodstock Institute regularly comments on bank mergers throughout the Chicago region, and the nation. For information on a specific bank, please contact Woodstock Institute through the comment page.
Comment letter on the proposed 2003 acquisition of St. Francis Bank, FSB, by MAF Bancorp, holding company of MidAmerica Bank in Chicago. In light of MAF Bancorp’s recent settlement with the Department of Justice regarding MidAmerica’s fair lending record, the Institute has several concerns about the proposed merger.
Addendum to comment letter
on the proposed 2002 aquisition of Fidelity Federal Savings Bank by MAF
Bancorp. As a result of a Dept of Justice investigation, the bank
announced that it was settling regarding fair lending disparities and
discrimination against residents of minority census tracts. The Bank
has agreed to open or acquire two branch offices in minority areas
within 30 months, implement a targeted ad campaign to increase home
mortgage lending, and provide $10 million in benefits to borrowers through special financing programs to help residents of minority areas achieve home ownership.
Comment letter on the proposed 2002 aquisition of Fidelity Federal Savings Bank by MAF Bancorp (parent company of MidAmerica Bank). These comments follow up on Woodstock Institute's 2001 comments protesting MAF Bancorp’s proposed acquisition of Midtown Bancorp because of MAF Bancorp’s poor performance in lending to minorities and for its discriminatory CRA assessment area.
