94-5895. Shawmut National Corporation, Hartford, Connecticut, and Boston, Massachusetts; Petition for Reconsideration of the Board's decision

[Federal Register Volume 59, Number 49 (Monday, March 14, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-5895]


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[Federal Register: March 14, 1994]


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FEDERAL RESERVE SYSTEM
 

Shawmut National Corporation, Hartford, Connecticut, and Boston, 
Massachusetts; Petition for Reconsideration of the Board's decision

    Shawmut National Corporation, Hartford, Connecticut, and Boston, 
Massachusetts (Shawmut), has filed a Petition for Reconsideration of 
the Board's decision dated November 15, 1993, not to approve its 
application to acquire New Dartmouth Bank, Manchester, New Hampshire. 
The Board's Rules of Procedure provide that a request for 
reconsideration of a Board decision must present relevant facts that 
for good cause shown were not previously presented to the Board.
    Shawmut represents in its request that relevant facts not 
previously considered by the Board are now available. In particular, 
Shawmut refers to its settlement with the Department of Justice and the 
Federal Trade Commission of charges of illegal discrimination by 
Shawmut Mortgage Company; its improved lending record as reflected by 
1993 data filed under the Home Mortgage Disclosure Act (HMDA); the 
results of its efforts to ensure that HMDA data are accurate; 
managerial and organizational changes designed to strengthen 
compliance; and the results of steps initiated to improve its lending 
to minority and low- and moderate-income communities. In light of these 
facts, Shawmut maintains that the Board should grant the petition and 
approve the proposed acquisition. Notice of the filing of the petition 
is published in order to seek the views of interested persons on the 
issues presented by the petition. The Board expects to act on the 
petition no later than May 2, 1994.
    Comments may be mailed to William W. Wiles, Secretary, Board of 
Governors of the Federal Reserve System, Washington, DC 20551. Comments 
addressed to Mr. Wiles may also be delivered to the Board's mail room 
between 8:45 a.m. and 5:15 p.m., and to the security control room 
outside of those hours. Both the mail room and control room are 
accessible from the courtyard entrance on 20th Street between 
Constitution Avenue and C Street, NW. Comments must be received not 
later than March 31, 1994.
    The Petition for Reconsideration may be inspected at the offices of 
the Board of Governors or the Federal Reserve Bank of Boston.

    Board of Governors of the Federal Reserve System, March 9, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-5895 Filed 3-11-94; 8:45 am]
BILLING CODE 6210-01-F