B of A Criticized: The Greenlining Coalition,...
From Times Staff and Wire Reports
B of A Criticized: The Greenlining Coalition, a group of minority and consumer organizations that puts pressure on banks to lend more in low-income areas, filed a protest with federal officials against any potential acquisition by BankAmerica Corp. of the failed Bank of New England. The group criticized the San Francisco-based bank, one of many potential suitors, alleging that its record is inadequate and that it has failed to make a long-term commitment to low-income areas. The bank defended its record, noting that it recently received an “outstanding” rating from U.S. regulators for its community programs and performance.
