Paramus' Hudson City Bancorp Deal Delayed Again

For the fourth time, the Federal Reserve Board has failed to act on the merger application of two major banks, according to a report by NorthJersey.com

Paramus-based Hudson City Bancorp and M&T Bancorp agreed to merge over two-and-a-half years ago, according to the report.

Buffalo-based M&T purchased Hudson City for $3.7 billion, the report states.

Previously, M&T has stated that the reason for the Federal Reserve’s failure to approve has to do with questions about the bank’s anti-money laundering capabilities, according to the report.