By REBECCA ROSENBERG and DAN MANGAN
Posted: 4:09 am
October 13, 2008
Poor neighborhoods could lose bank branches because of the takeover of Washington Mutual by JPMorgan Chase, Rep. Anthony Weiner warned yesterday.
A study by Weiner's office found that 37 percent of New York's lowest-income communities might lose a bank branch as Chase eliminates redundancies resulting from the takeover, the congressman said.
Weiner (D-Queens/Brooklyn) noted that the Tremont section of The Bronx has just two bank branches: one Chase and one WaMu. Ten other low-income neighborhoods have just two such branches, Weiner said.
"Banks in this city are disproportionately serving wealthy New Yorkers," Weiner said.
Weiner has asked the US comptroller of currency - who regulates banks - for a study of the implications of fewer bank branches in poor communities.
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