“Lack of competition in the banking sector can drive up prices for consumers and stifle economic growth and innovation,” said Mike Calhoun, president of the Center for Responsible Lending. “We need more robust scrutiny of the disproportionately negative impact bank mergers can have on communities of color, rural and low-income Americans. The FDIC should be taking affirmative steps to promote competition and financial fairness for consumers and businesses.”
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Press Contact: Alfred King alfred.king@responsiblelending.org