After Bank One a single bank?
The biggest bank merger imperative of the new millennium, the combination proposed by JP Morgan Chase and Bank One for $ 58 billion, has been questioned by competition loans, annotations, cartels and other grounds for non-profit organization Inner City Press / Fair Finance Watch (ICP).
“This proposed mega-merger would harm consumers,” said Matthew Lee, executive director of Inner City Press. “JP Morgan Chase increasingly to a foreclosure of competition, lenders, as it bought and Advanta, as investment bank. Bank One Trust pays lenders and the high cost of repayment of loans appetite. Combining these two companies portends ill for middle-income consumers, municipalities and color small businesses in Germany. After Bank One, how long it will last until there is a only bank? ”
If approved, JP Morgan Chase - A bank merger would lead to a billion dollars institution, the second after Citigroup. Inner City Press for their actions motivated by the challenge of the Federal Reserve, which must be accepted by law, comments on the proposed merger to March 15, comments.applications @ ny.frb.org.
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