Business Services Industry
Chicago-Area Residents Voice Concerns over Takeover of Bank One at Hearing.
Knight Ridder/Tribune Business News, April, 2004
By Leon Lazaroff, Chicago Tribune Knight Ridder/Tribune Business News
Apr. 16--NEW YORK -- Worries about predatory lending, branch closings and the marginalization of low-income neighborhoods topped the list of concerns voiced Thursday at the first of two hearings designed to give the public a chance to comment on J.P. Morgan Chase & Co.'s plans to buy Bank One Corp. of Chicago in a deal valued at about $58 billion.
The second hearing is scheduled for April 23 at the Federal Reserve Bank of Chicago.
In a daylong hearing held at the Federal Reserve Bank of New York in lower Manhattan, community and legal services groups conceded they had little chance to block the deal, which would create the country's second-largest bank.
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