Mitsui Hearing Scheduled: Representatives of community groups...
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Mitsui Hearing Scheduled: Representatives of community groups and the world’s second-largest bank will square off today in a Federal Reserve hearing in Los Angeles on Mitsui Taiyo Kobe’s community reinvestment record. Tokyo-based Mitsui, which claims its record of approving credit to low- and moderate-income areas is good, wants Fed approval to convert its Taiyo Kobe Bank & Trust Co. in New York from a non-bank trust company into a bank. The community groups say Mitsui has an unacceptable record in California and they want to force the bank to do more.
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