Six organizations representing minorities are asking Deutsche Bank to make a multibillion-dollar Community Reinvestment Act pledge in connection with its acquisition of Bankers Trust Corp.
In a Dec. 9 letter, the groups asked Deutsche chairman Rolf-Ernst Breuer to meet with them by yearend. Led by the National Black Chamber of Commerce, the coalition includes the Greenlining Institute, the Organization for a New Equality, the National Black Business Council, the Latino Issues Forum, and the Filipino-American Political Association.
In a press release, the groups threaten to delay the merger by protesting it before the Federal Reserve Board if Deutsche Bank does not make a substantial CRA commitment.
Bankers Trust declined to comment and a response from Deutsche Bank was not immediately available.