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M&T Merger May Near Close After Hudson City Redlining Deal

Publisher: Law360
October 2, 2015

Mike Rave was quoted in an article, “M&T Merger May Near Close After Hudson City Redlining Deal,” in Law360. In the article, Rave discusses the regulatory concerns that have held up the $3.7 billion merger between M&T Bank and Hudson City since August 2012. Rave says it is unlikely M&T would back out of a deal with Hudson City even after Hudson City’s $33 million settlement with the U.S. Department of Justice and the Consumer Financial Protection Bureau for settling claims that it had policies in place that allegedly prevented black and Hispanic borrowers from getting access to mortgage credit in violation of the Equal Credit Opportunity Act and the Fair Housing Act.

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