Reject Citi-Associates Deal, Group Urges
American Banker (09/26/00) Vol. 6, No. 10 p.19; Canning, Eileen
A number of federal and state banking and insurance
regulatory bodies have received petitions from community
activists seeking to have the Citigroup acquisition of Associates
First Capital blocked. The petitions from Inner City
Press/Community on the Move say the deal should be blocked
because a banking unit of Associates was rated "needs to improve"
on its most recent Community Reinvestment Act evaluation, which
could affect Citi due to provisions in the Gramm-Leach-Bliley
Act.