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The Boston Globe

Business

HarborOne Credit Union’s plan to be a bank draws fire

Customers unlikely to benefit, regulator says, but HarborOne seeks path to growth

The nation’s top credit union regulator has questioned HarborOne Credit Union’s decision to become a bank.

Debbie Matz, chairwoman of the National Credit Union Administration, the federal agency that oversees credit unions, said she did not see how converting the Brockton credit union into a mutually owned cooperative bank would help its approximately 140,000 customers.

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