The Center for Responsible Lending and 11 other progressive groups urged U.S. regulators to reject Toronto-Dominion Bank's proposed acquisition of First Horizon Corp., arguing that the $13.4 billion deal would harm low-income communities and reduce small- business lending.
In a letter to the Federal Reserve and the Office of the Comptroller of the Currency, the groups also cited the bank's overdraft-fee practices and made the case that large bank consolidation adds to systemic risk.
