KeyCorp’s acquisition of FNFG raises a myriad of concerns that are common in bank takeovers.  Above all, we are concerned about ensuring lending and services are accessible and available to low and moderate neighborhoods and citizens.  This merger will result in a loss of competition where FNFG has had its strongest presence in New York, particularly in the Capital Region and Buffalo.  This merger must not result in the loss of accessible, walk-up branches particularly in low and moderate income neighborhoods.  KeyCorp has not had a great record of locating branches in these neighborhoods and must do better to serve those communities.  Checking and saving account products must also be developed to cater to these communities.  KeyCorp must provide low fee options with the ability to get paper statements, recognizing that many low income households still do not in-home computers.

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