Capital Briefs: Chase Wins Battle Over CRA Protest

A federal appeals court in New York on Tuesday rejected a last-ditch effort by a Bronx-based community group to block Chase Manhattan Corp.'s purchase of a securities processing business from U.S. Trust Co. of New York.

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The decision by the U.S. Court of Appeals for the Second Circuit allows the deal to close, said Warren Traiger, a New York attorney who represents the banks in the case.

Inner City Press/Community on the Move has been trying for half a year to block the sale on Community Reinvestment Act grounds.

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