More than a dozen community organizations throughout the Northeast have banded together to demand that the Federal Reserve Board and the Federal Reserve Bank of Boston hold public hearings on the merger pending between Fleet Financial Group and Shawmut National Corp.

The groups represent nonprofits in Connecticut, Rhode Island, New York, New Hampshire, and Massachusetts. Dubbed the Northeast Reinvestment Alliance, the coalition will "monitor the Fleet-Shawmut merger process, share information, and seek public meetings with the Fed on lending in low- and moderate-income neighborhoods," according to Marc Draisen, president of the Massachusetts Association of Community Development Corporations.

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