This study explores how Community Reinvestment Act (CRA) protests and their resolution affect the market value of merging banks. We find, in contrast to earlier research, that CRA-related events are not associated with significant negative market reactions for either bidder or target...

This paper tests whether there is a preference by borrowers and lenders of a particular ethnic or racial group that may predispose them to borrow and lend from each other. Using a narrow geographic area called zip code clusters, this paper groups minority-owned and non-minority-owned banks to...

This study examines the issue of whether CRA-related events impact the securityprices of banking institutions involved in mergers. While previous research hasestablished that bank shareholders experience a significant permanent loss of wealth uponthe announcement of a CRA protest, the current...

This study explores how Community Reinvestment Act (CRA) protests and their resolution affect the market value of merging banks. We find, in contrast to earlier research, that CRA-related events are not associated with significant negative market reactions for either bidder or target...