Public Comments Pre Judges Content
of Merger Protest on Fifth Third
by
Matthew Russell Lee, Patreon Book
Substack
SDNY/SOUTH
BRONX, Nov 29 – As US
bank regulators loosen rules –
including the FDIC moving to
eliminate public comment
altogether on branch expansion
applications – more big banks
are moving to get bigger.
And now
Federal Reserve is rejecting
public comments opposing
mergers, here Fifth Third’s
already sued Comerica
proposal, citing the
“reputation” of the submitter.
Inner City Press / Fair
Finance Watch has written to
the Board Secretary:
Yesterday Fair
Finance Watch emailed a timely
comment opposing Fifth Third /
Comerica as we have always
done – and got back this
(which I’m glad we saw)
“This is the mail system at
host
www2.webmail.pair.com.
I’m sorry to have to inform
you that your message could
not be delivered to one or
more recipients. It’s attached
below.
“federalreserve.gov:
Your access to this mail
system has been rejected due
to the sending MTA’s poor
reputation.”
We ask that an
explanation be provided – and
that the Federal Reserve
System check on this pending
application and other
applications, including going
forward, that it has not
rejected comments from the
public. Awaiting Fed
response, Matthew Lee,
Esq., Executive Director, Fair
Finance Watch / Inner City
Press
On
October 6, Fifth Third
announced it will apply to buy
damaged Comerica Bank. On
October 8-9, it was opposed,
to the Fed and OCC. On
November 10, after a
contemptuous response by Fifth
Third’s Kala Gibson, the fight
was spread to five more
states.
They all
accepted the comments from
Fair Finance Watch. But now
the Federal Reserve no longer
does. A FOIA request is being
prepared.
***
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