April 12 M&T Bank Corp and Hudson City
Bancorp Inc said on Friday it may take more time than
expected for the U.S. Federal Reserve to rule on M&T's proposed
$3.7 billion purchase of its smaller rival because of concerns
over M&T's anti-money laundering program.
The two banks said in a statement they intend to extend the
date after which either of them may decide to terminate the
deal, if it is not completed, to Jan. 31, 2014, from Aug 27.
M&T has hired an outside consultant to help it address the
concerns of the Fed's banking regulators. It did not immediately
identify the consultant.