The Federal Reserve Board approved the merger between JPMorgan Chase (JPMC) and Bank One. In the approval notice, the Fed mentioned many issues that NPA groups brought up. These issues include: high number of foreclosures, farm and ranch management, bad servicing practices and participation in affordable lending programs.

It is no surprise that the Fed had to deal with the issues we brought up. Syracuse United Neighbors testified at the public hearing about the merger in New York City, while East Side Organizing Project and NTIC testified at the public hearing in Chicago.

NPA groups are not giving up! We met with the Office of Comptroller of the Currency about Bank One's CRA exam. We are currently waiting for another response from JPMC about our proposed partnership.