KeyCorp, Eastern get relief as activist investor backs down

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Activist investor HoldCo Asset Management has withdrawn its threats to pursue proxy contests against KeyCorp and Eastern Bankshares. This decision comes after HoldCo noted significant changes by both banks’ management teams to better protect shareholder rights and increase market value. The article also touches on other banking news, including a housing bill with community bank provisions and CFPB’s refusal to cooperate with GAO investigators.

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