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Beneficial Mutual Bancorp Inc. Message Board

  • sellplg sellplg Apr 26, 2013 9:29 AM Flag

    Don't be Expecting A Conversion

    any time soon.

    Beneficial Mutual Bancorp in Philadelphia is the subject of a governmental
    investigation into its residential real estate lending.

    The Department of Justice's probe will postpone the mutual thrift's plans to
    convert to a stock-owned organization. The investigation is being conducted
    under "the Equal Credit Opportunity Act and the Fair Housing Act," Beneficial
    said.

    The company said the Federal Deposit Insurance Corp. made a referral to the
    Justice Department about its origination of home equity and residential mortgage
    loans. A spokesman for the FDIC declined to confirm whether it made a referral.

 
BNCL
13.40+0.01(+0.07%)Jul 30 4:00 PMEDT

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