Banker and Tradesman, March 7, 2022, Fed Approves M&T Bank, People’s United Deal
More than a year after announcing plans to acquire Connecticut-based People’s United Bank, Buffalo-based M&T bank has received the final regulatory approval needed to complete the merger.
Some commenters did have concerns about the deal, including several who asked the Fed to require that M&T establish a community benefits plan. The Fed said banking regulations, including the Community Reinvestment Act, do not require pledges from depository institutions.
M&T still did create a community benefits plan in October in partnership with the National Community Reinvestment Coalition.
