The Greenlining Institute and members of its coalition have been following the proposed merger since it was announced. CapitalSource Bank’s community development performance far surpassed that of PacWest. In September, Greenlining sent a letter calling on regulators to deny the merger due to concerns that the merger would decrease resources to affected communities. Greenlining and other community groups entered into negotiations with PacWest to identify goals and priorities of a larger PacWest. Unfortunately, the final plan exhibits a lack of commitment to inclusion and community development. Greenlining and other community groups are open to changing opposition with a commitment to increased investments and a demonstrated plan for diversity and inclusion.
To read the letter, Click Here.