In this case, the coalition and its allies, including the

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Home > Articles > Money Careers > Customer Service > On our road trips to New Jersey to facilitate a motivation program for a client, Joy and I make it a habit to order food from a particular fast food restaurant. Although the food is not nutritious, it tastes good and is so famous that there was a movie made about the adventures of two people searching for this restaurant (Hint: Harold and Kumar are the two main characters).During a recent road trip, as we approached the restaurant cheap Jerseys, we noticed that the lights were out in several of the businesses leading up to it. Nearing the front door of the restaurant, we noticed a sign that read “Restaurant Closed Due to Power Outage.

Scott Reckard)When banks merge, regulators must consider whether the institutions are meeting the requirements of the Community Reinvestment Act, or CRA, a federal law that pushes banks to lend to low income and minority neighborhoods within their service areas.Banks often make big CRA commitments ahead of mergers and acquisitions, both to ease regulatory approval and to avoid opposition from fair lending groups.But when such pledges aren’t made or when advocacy groups believe CRA plans are insufficient, they often protest, which can delay a deal or force banks to make richer promises.When New Jersey lender CIT Group announced plans in July 2014 to buy Pasadena’s OneWest Bank, criticisms of the CRA plans pushed federal regulators to take the rare step of holding a public hearing about the deal’s community benefits. The merger was ultimately approved, but took longer to close than expected.In this case, the coalition and its allies, including the Alliance of Californians for Community Empowerment and the Fair Housing Council of the San Fernando Valley, say Pacific Western has shown them a draft CRA plan that falls short.The groups lay out a long list of demands, including that the merged bank do more small business lending in Fresno, Kern, Kings and Tulare counties areas where the groups say Pacific Western has relatively large amounts of customer deposits compared with the small business loans it makes.The coalition also questioned the propriety of the bank’s hiring of a former FDIC official, given that the agency is also tasked with evaluating Pacific Western’s adherence to the CRA.Stanley Ivie, Pacific Western’s chief risk officer, had been director of the FDIC’s San Francisco region, which is responsible for banks across 11 Western states. He did not return a call seeking comment.Paulina Gonzalez, executive director of the coalition, suggested the bank could have hired Ivie to help it “finesse” approval of a lackluster CRA plan.Pacific Western has made a handful of recent acquisitions, becoming one of the largest banks in Southern California..

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