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City National Bank deal wins OK from a former foe
City National Bank deal wins OK from a former foe

Royal Bank of Canada's proposed purchase of City National Corp. in Los Angeles cleared one potential hurdle when an advocacy group for low-income and minority consumers reversed course and said it supported the $5.4-billion deal. The group, Greenlining Institute in Berkeley, initially joined other advocates in withholding support and seeking a public hearing by the Federal Reserve that might have delayed the deal for City National, the parent of City National Bank. But Greenlining advised the Fed on Tuesday that it supported the deal "after ongoing negotiations with City National Bank to ensure that California's low-income consumers and businesses of color benefit from the...

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