Small-business lending is expected to be a key part of a community reinvestment agreement being hashed out between activists and First Chicago NBD Corp. and Banc One Corp.

The Woodstock Institute, a Chicago fair-lending advocacy group, hopes to have a Community Reinvestment Act agreement with the merging banks by mid- July. The group wants the pact to include a major commitment to small- business lending in inner-city Chicago, said Marva Williams, a senior project director for Woodstock.

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