A Federal Reserve Board proposal to reduce the processing time for most merger applications could lead to more protests under the Community Reinvestment Act, members of the Fed's Consumer Advisory Council said Thursday.

Bankers and community activists on the council agreed that if the Fed speeds up application approvals, there might not be enough time to resolve CRA concerns.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.