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The Boston Globe Boston Capital Column.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, May, 1996 by Bailey, Steve; Syre, Steven
May 7--Bank of Boston locked itself into an awkward David and Goliath dispute over state market-share limits when it signed a deal to buy BayBanks Inc. last December.
Now David has found a big and unlikely ally.
Citizens Financial Group has quietly joined small state institutions, represented by the Community Bank League, to oppose legislation that would expand the state's cap on deposit market share for a single bank from 25 to 30 percent.
The center of the controversy: Bank of Boston's market share in Massachusetts would jump to an estimated 26.38 percent when the BayBanks deal is completed.
The small banks launched an unusually effective charge against the higher cap in February, in part by attacking the rougher competitive edges of big...
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