WASHINGTON -- The Federal Reserve has Unanimously approved a merger application by a North Carolina lender, despite allegations by another banking agency that the institution discriminated against minorities.

Last year, the Federal Deposit Insurance Corp. said it detected three instances of lending discrimination in a routine examination of BB&T Financial Corp. of Wilson, N.C.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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