Woodstock President Malcolm Bush argues that the
State Farm application will establish a critical precedent for the
terms under which insurance companies enter the banking business and in
this case seriously violates the letter and intent of the CRAand its
regulations.
Geoff Smith, Woodstock Institute project director,
discusses Woodstock Institute's research documenting the relationship
between concentrated subprime lending and neighborhood foreclosures.
Marva Williams, Woodstock Institute Senior Vice
President, testifies before the Chicago City Council Committee on
Finance on the impact of the proposed merger of Bank One and JP Morgan
Chase. Her testimony includes a summary of Bank One's previous
CRA agreement and the new Memorandum of Understanding of Community
Reinvestment Goals.
Marva Williams, Woodstock Institute Senior Vice President, states that Woodstock Institute neither supports nor opposes the proposed acqusition of Bank One by New York based JP Morgan Chase. She also states that federal banking regulators should take a bank's performance under a community reinvestment agreement into consideration during their ongoing CRA public examinations.
