UAAD'S PROPOSAL to FUND SOLAR PANELS for LOW-MODERATE INCOME HOMES

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The Feds Regulate and Collabrate With Banks

October 20, 2006

Ms. Gaboardi,

UAAD and its AFFILIATES Request a delay of the proposed merger of Regions Bank and AmSouth Bank pending a CONGRESSIONAL HEARING.

What agency(s) is responsible for banks to comply to the statues and regulations?
I spoke to you by phone October 10, 2006, regarding when the public hearings would be held regarding the merger of Regions and AmSouth Banks. You stated that since United Affirmative Action Development Corp, UAAD had not had a chance to comment, that the public hearings would be extended through November 2006. UAAD also asked that your office send UAAD and others in writing the extended comment period. UAAD ask also that the extended period be indefinite, due to UAAD and others seeking Congressional hearings on your agencies involvement in this process and the banks unethical practices.

 

The urgency of UAAD receiving a reply to this complaint, and asking your office for a reply in days rather than weeks or months is due to our feeling that the Federal Reserve Board( FRB) is possibly conspiring with bank officials in not notifying community orgazinations who are inquiring about CRA activities and  giving false statements, (see memorandums, correspondence and recordings regarding contacts with bank and Federal agencies on CD enclosed).

Ms. Kate Gaboardi,

Application Analyst                                      

Federal Reserve Board of Atlanta             

1000 Peachtree Street 

Atlanta, GA 30309 404 498-7250

See: http://www.AmSRegionsCRA.blogspot.com

        http://www.uedcrabank.blogspot.com

        http://www.uaadcra.blogspot.com

        http://www.uaadcorp.com

 

(This is a reply from Senator Vitter's Office)               

Briefly state the nature of your problem (be specific):
The Office of the Comptroller of the Currency & the Federal Reserve Bank have refused to notify my organization and other NGOs and CBOs regarding the public notice period and regarding any public hearings on the matter of the merger of Regions Bank & AmSouth Bank. http://www.uaadcorp.com/
Briefly state the outcome you are seeking:
Request a delay of the proposed merger of Regions Bank and AmSouth Bank and to extend the public comment period indefinitely.

Brent Tippen
United States Senator David Vitter

 

 BANKS & FEDERAL AGENCIES DISCRIMINATE AGAINST AFRICAN AMERICANS

 

What is the purpose of the OCC/FDIC?
In 1998 UAAD filed a complaint against Bank One due to bad faith negotiations, and its lack of compliance to CRA. This complaint addressed in particular its practice of discriminating against African Americans. Several other complaints have since been filed. The OCC is responsible for enforcing and listening to such complaints.
The complaint filed in 1998 the OCC recommended that this non-profit hire a Lawyer. E-mails sent regarding UAAD’s complaints recently were unanswered or the answer did not address the issue UAAD was pursuing. Upon attempting to get a clarification on whether Chase Bank was in violation of
12CFR25.43 pertaining to disclosure of the banks public records, conflicting information came from the OCC Houston, Texas office. First I was denied to speak to Ms. Delora Jee who is stated to be The CRA Deputy Comptroller who in charge of JP Morgan Chase Bank compliance to CRA. After discussing with Ms. Jee that one of the reasons I had come to Washington, DC was to meet and present a CRA complaint regarding Chase Banks non-compliance of the CRA regulations, to include 122CFR25.43, Ms. Jee stated she was not the proper official to present this type of complaint, and went on to say that her position would be compromised, due to her being the Deputy Comptroller overseeing Chase Banks CRA involvement. At least that is what I understood her to say. I asked her who in the OCC was there to protect the interest of the community. Ms. Jee first stated UAAD would have to file its complaint with the Houston, Texas office. I related to her that I felt I was being given the run around by her and others, due to the Supervisor in the Houston office had previously told me that complaints regarding CRA had to be filed at the Washington, DC location. Later in our discussion Ms. Jee stated that they did have an OCC representative whose name was David Lewis. Ms. Jee stated she would have Mr. Lewis get in touch with me via cell phone, but did not say when. It was also indicated that the FDIC / OCC usually don’t take such complaints until a merger take place.
From the conversation held with the Deputy Comptroller of CRA for Chase Bank I would suggest that those having issue with Chase and their banks branches disclosure of their CRA performance should demand that these institutions have on file for public view “all” complaints, which is required under 12CFR25.43 of the CRA regulations. It is UAAD’s intent to present our and others complaints to various branches, publicize and ask the public and media to view such complaints. Ms. Jee advised that the purpose of Mr. Lewis’s assignment to the Louisiana area was to address CRA compliance problems with various banks. UAAD will insist that OCC representatives such as Mr. Lewis investigate and make our organization aware of any actions that are taken.
I would imagine that those who are concerned about Katrina victims and others suffering from banks poor and lack of performance in the African American Community should tell these victims that they will have to wait until Chase Bank decide to expand its predatory influence to other areas, before Community Organizations can complain to the Federal authorities about their contributing to their adverse condition. Than we should advise these poor souls that it is not likely that anything will be done in the future, based on what the FDIC and OCC’s poor performance in the past when banks are allowed to discriminate against African Americans in particular, with the support of the Federal Government and Congress.
This so-called Civil Rights Legislation called the Community Re-Investment Act was only passed with stipulations that these racist financial institutions can continue to do business as usual. Now the Republicans, and some Democrats are saying that they can live with it as written, as long as it benefits those it wasn’t intended. How could it have been considered a part of the civil rights legislation, when it was meant for the Banks to continue their racist practices? Why would Congress support the wrongful doings of Chase Bank to provide billions of dollars to Caucasians under the guise of CRA while the poverty stricken African Americans are suffering and were doing so long before Katrina due to Chase Bank’s and their CRA officials version of CRA. Why will this government continue with the deficit in the trillions of dollars not enforce Chase Bank to provide funding to African Americans as they have always provided to Caucasians since banking was formed in America.
Without dwelling in the past, why doesn’t this government insist that all regulations are adhered, whether they benefit African Americans or others? After this administration’s poor performance and lack of performance in the African American Communities past and present, it is time for this administration and congress to provide the necessary leadership, to allow all an equal opportunity and a share of the wealth. With equal opportunities African Americans will become gainfully employed, rather than under-employed and in a larger degree un-employed. The prison population will decrease to a great degree, with equal opportunities jobs will be obtained, education in the minority community will increase, and our society as a whole will benefit.
UAAD and several other Community and Civil Rights Organization are building coalitions to address these particular problems. We ask that Congress hear our plea.
We ask that Congress hold hearings regarding CRA and the lack of African Americans participation in this economy.
We ask that UAAD and this Coalition be put on the agenda for the hearings addressing the Katrina Victims.
UAAD ask those receiving this complaint and solutions reply with suggestions on all or a portion. Comments you agree or don’t agree are welcomed.
UAAD’s and many of it’s Partners believe that a resolution of the mentioned complaints will provide some solutions, that will benefit African Americans, and all Americans. see: http://www.uaadcorp.com/ for more information regarding this complaint and solutions.

 

Who is concerned when African Americans Human/Civil Rights are violated??

While African Americans are dying in Afghanistan, Iraq, and the Ghettos of America, Human Rights are continually violated by this Government

FEMA is one example of how government agencies treat African Americans different from Caucasians.  When ENRON executives committed numerous crimes against their work force of whom the majority is Caucasian, the Justice Department immediately filed charges.  When white females rights are violated in the work place EEOC will enforce the regulations.  When African Americans file EEOC complaints little is done by this agency.  When individuals file complaints against Halliburton or its subsidiaries, private attorneys have to be obtained.  When companies fail to abide by civil rights legislation and laws, government agencies normally fail to act to protect the interest of African Americans.  Since slavery ended and our nations banks have been regulated by the FDIC and OCC banks have violated the rights of African Americans.  Not only do the federal agencies ignore these violations, they at times conspire with the violators.  See:   http://www.chasebankreparation.blogspot.com  http://uedcdwb.blogspot.com http://www.complaintspolice.afreepress.com

http://journals.aol.com/uedcinc/UAADCRA/#Entry317

 

12/3/05

MILLIONS SUFFER WHILE CHASE BANK HOLD BACK $800 BILLION THAT SHOULD BE MEANT FOR AFRICAN AMERICANS

 

To: Mike Scott, JP Morgan/Chase Bank

This is a suggestion on –

HOW TO MAKE POLITICAL, SOCIAL AND EVENTUALLY REACH ECONOMIC PARITY FOR “ALL” LOUISIANA CITIZENS

Have community organizations, politicians insist on Chase Bank and other banks meet their CRA obligations by providing funding through CRA agreements as regulated under the most important civil rights regulation, “The Community Re-investment Act of 1977”.

Our nation’s banks have according to recent reports $4.2 trillion dollars in CRA funds that should be available for African Americans since this important legislation was passed and implemented due to red-lining and discriminatory practices in Black neighborhoods.

UAAD is in the process of negotiating with JP Morgan Chase Bank to participate with their $800 billion to be allocated the next 8 to 10 years. A reasonable portion being distributed through UAAD’s proposals to Chase Bank will benefit those for whom the funds were meant.

Mr. Scott, I would like to hear from you soon in order that we can implement an agreement. Many are suffering unnecessarily while you are taking the position of assisting your bank (Chase) in denying African Americans funding provided by CRA regulations. This is my response to your last correspondence.

For more information and the success or lack of success of the negotiations with Chase Bank see:

www.uaadcorp.com

www.uedcrabank.blogspot.com

www.uaadcra.blogspot.com

www.uaadcrahbuc.blogspot.com

February 26, 2006

 

While lobbying Congress and the Office of the Comptroller of the Currency (OCC) regarding JP Morgan/Chase Bank’s non-compliance of the Community Re-Investment Act of 1977 (CRA) a Civil Rights Legislation, the following is my report:

 The purpose of lobbying was to present proposals that United Affirmative Action Development Corp (UAAD) a 501c3 non-profit community organization, wished to express how funds in excess of $800 billion dollars that Chase Bank has committed towards fulfilling it’s obligation under CRA, can assist the Katrina victims. 

It was discovered in talking to the Republican side of the House, that if proposals to strengthen this legislation was proposed, it is likely that they will kill the CRA legislation.  Therefore they believe that it will do more good if it is left intact, with little or no enforcement power.  Some Democrats take the same position. 

I was told also that UAAD’s complaint against Chase Bank would be better served if all banks that were not in compliance with CRA were a part of this complaint.  I indicated that due to Chase Bank being the largest financial institution in the State of Louisiana, and had what we believe to be a very poor rating in serving the African American Community, our intent was to make Congress, the FDIC, OCC and the world aware of how “this” bank caused and manifested the poverty and lack of financial parity in the minority community “this” bank should have served.  Had Bank One negotiated in good faith rather than bad faith in 1995 upon accruing Premier Bank of Louisiana, it is my and others’ belief that the poverty that exists in Louisiana would have been diminished. (see FDIC/OCC complaint).  Chase Bank in their lack of commitment to CRA has only plagiarized UAAD’s and other community organizations’ CRA proposals and presenting them in their Community Partnership presentations as though they are attempting to comply with this important Civil Rights legislation.  The purpose of CRA was to eliminate the red-lining and discrimination in the minority communities.  Banks, Congress, and federal regulators after Katrina are allowing these victims to further suffer.  Chase Bank states that they have provided in excess of $69 billion of the $800 billion they have committed of their CRA funds since April 2004 to the community they serve.  After numerous complaints, a Shreveport, Louisiana branch of Chase Bank reported that they created a division called “Chase Home Finance” and staffed it with a Community Lending Officer.  Before this officer was appointed by the bank, UAAD asked for information from Ms. Charlita Cloman, VP Community Partnership Mgr. Community Development Group as to how this program worked and how it could assist African Americans under CRA.  Ms. Cloman stated she did not have any written proposal that she could give UAAD, but that I would have to write a proposal expressing what UAAD had accomplished in developing low income housing etc.  Ms. Cloman stated that once UAAD submits a proposal the bank would consider funding.  Two weeks ago I met with Ms. Daphne G. Childress the Community Lending Officer / Northern Louisiana who stated she had been in this position for approximately six months and had made in the range of $600-700,000.00 in loans during this period.  I asked if she was aware that Chase Bank has committed and spent in other areas approximately $69 billion dollars.  When asked if community organizations as advised under CRA could assist her and the bank in carrying out their commitment she agreed. 

The sooner Chase Bank makes a commitment to African Americans as it has to others, the sooner economic parity will be obtained.  Chase Bank should not meet the requirements of CRA mainly because of this legislation. They should feel obligated to serve the needs of the entire community no matter of color or gender.  Mr. Mizell Scott who serves as Vice President of Chase Bank’s CRA for the State of Louisiana expresses the views of Chase Bank when he has stated on more than one occasion that it is his and Chase Bank’s view that CRA was not meant for African Americans, and Chase Bank doesn’t have to adhere to UAAD’s views.  Mr. Scott and other Chase Bank CRA officials also express that they are proud of Chase Bank’s CRA performance.

According to the latest CRA Performance Evaluation March 31, 2004 by OCC, in my opinion the State of Louisiana must have the worst report of all the States in which Chase Bank operates.  See: www.uedcinc.com/id18.html   According to the same report it is recommended by the OCC that Chase Bank should involve community organizations in order to improve their performance.  See: www.uaadcorp.com  for more information regarding this complaint.

Sincerely,

Walter L. Ellis CEO UAAD

2/18/06

 

TO:     Honorable Member of Congress

RE:      Request A meeting Re Community Reinvestment Act (CRA)

I am writing to request a meeting on the misinterpretation of the 1977 Community Reinvestment Act.  The landmark legislation was a Civil Rights victory to benefit African Americans and other people of color.  Today, financial institutions have applied a broader interpretation, using it as an Affirmative Action practice to benefit other groups who were not the intended beneficiaries.

To date, the nation’s banks have over $4.2 trillion in CRA commitments.  However, our investigation of CRA activity nationwide has shown that the majority of the country’s banks allocations have not been made to people of color.  For example, J.P. Morgan Chase Bank had a CRA budget commitment of $800 billion since April 2004; yet out of $69 billion dollars, disbursed so far the majority of the disbursement has gone to none minority interests.

If these CRA commitments were to be used to provide assistance to hurricane victims, it would benefit both the bank and the community at large.  Given the fact that J.P. Morgan Chase Bank is the largest bank in Louisiana, we believe it is necessary to apply some enforcement to this legislation now rather than later, to empower urban communities and cities effected by Hurricane Katrina.

United Affirmative Action Development Corp, a Louisiana-based 501(c) 3 (www.uaadcorp.com), is working with Recycling Black Dollars, a Los Angeles-based 501(c) 3 (www.rbdglobal.com), and we intend to build a coalition with other organizations such as ACORN, the NAACP, and the Greenlining Institute to demand compliance.  I have spoken to Sharon Gilstrap of the Office of the Controller of Currency (OCC) in Houston, and she indicated that a hearing before Congress would be appropriate to reinstate the spirit of the Civil Rights legislation.  With the assistance of Congress and supporting regulatory agencies, we intend to form an agreement with banks that aren’t in compliance with this legislation.   

We would appreciate it if you would facilitate this worthy effort of setting up a meeting.  I am available if you have any questions.  I can be reached at, (866) 276-2294 in my office or please feel free to use my cell phone number at, (951) 452-9160.

Thank you for your time and consideration.  I look forward to hearing from you soon.

Kind regards,

Mr. Walter Ellis, CEO of United Affirmative Action Development Corp

Mr. Muhammad Nassardeen, CEO of Recycling Black Dollars

2/28/06

Conversation today with Mr. Lewis that there is a good possibility of implementing and getting funding our proposed programs at GSU and other HBUCs. This proposal is to establish a chair, a business center, scholarships and other educational benefits for the community.

I received a call from Mr. David Lewis who represents the OCC compliance in the southern area.  His request was that I hold of my complaints, and he would assist in our organization getting the necessary funds to promote our CRA activity proposals.  He indicated the HBUC's and similar programs would more than likely be supported by the OCC and banks.  He basically asked if I would set aside the protest and complaints, he would probably be able to convince the bank(s) to service the needs of the community. I will be in contact with Mr. Lewis in the next few days arranging a meeting (forum) at Grambling State University between April 3-6, 2006.  I would ask your assistance in arranging this forum if available.  I believe this will be an opportunity to present and place worthwhile programs in the community.  Your organizations assistance will help make these programs the success they deserve.

Thanks

Walter L. Ellis CEO UAAD

4/7/06

Walter L. Ellis, CEO of UAAD asks the U.S. Justice Department to accept and investigate this complaint immediately. JPMorganChase Bank through false advertisement and discriminatory practices has withheld trillions of dollars that were allocated to Caucasians since 1977 that should have gone to African Americans. In 2004 JPMorganChase Bank committed $800 billion dollars to their Community Partnership Program. Since 2004 in excess of $69 billion have been spent, mostly contributions and loans to Caucasians.

JPMorganChase Bank in 2004 apologized for their involvement in the slave trade and promised to provide a mere $ 5 million dollars for what they called “smart start of Louisiana”. This was their contribution. The information regarding how to seek these scholarship funds were hidden in Chase’s web pages. The only university that appeared to be aware of such funds was LSU, a predominately white institution in Louisiana, with HBUC’s having no awareness of such funds until the offer expired, March 1, 2006.

JPMorganChase Bank has held back funds that should have benefited the Katrina victims and African Americans where they serve or should serve. JPMorganChase Bank should be penalized not only for their involvement in the slave trade, but also for the following:

 I.       Past and present red-lining in violation of the CRA Act of 1977

 II.    Massive discrimination pertaining to African Americans, in loans and contributions as required by CRA.

 III.    False advertisement, plagiarizing and other possibly criminal acts.

 IV.   Failure to provide education funding to GSU, a HBUC as promised in 1996.

See: www.uaadcrahbuc.blogspot.com 

 JPMorganChase Bank’s compliance of the CRA Act will allow billions and billions of dollars to provide assistance to hurricane victims throughout the Gulf region and the U.S. Chase’s compliance will provide funds that will reduce the deficit, using funds that should have been contributed to reparation and other banks discriminatory practices. See: www.uaadcorp.com  www.chasebankreparation.blogspot.com  and www.bankingwhileblack.blogspot.com

 I.      Failure to commit funds to African Americans in proportion to Caucasians under the Civil rights legislation the Community Re-investment Act of 1977 (CRA). See: www.uaadcorp.com

 II.      Failure to negotiate in good faith CRA agreements that will benefit African Americans.

 III.   Failure to pay reparation as promised to African Americans. See: www.uaadcorp.com and the link: JPMorganChase Bank smart start of Louisiana

 IV.     Failure to comply with 12CFR25.43 regulation regarding public files disclosures.

 V.       Falsifying commitments to institutions and organizations.

 VI.    Possibly criminal violations under the RICO Act.

 VII.   Failure to fund loans and grants to African Americans.

 VIII.     Failure to give loan applications to African Americans.

 IX.         Failure pf CRA representatives to represent African Americans.

 X.          Plagiarizing United Affirmative Action Development Corp’s (UAAD) submitted proposals and using same to benefit Caucasians and penalizing African Americans.

 Complaint regarding the Office of the Comptroller of the Currency (OCC) and their lack of enforcing CRA regulations.

 I.            Ms. Delores Jee, Deputy Comptroller of OCC who stated it would be a conflict of interest for her to discuss any complaints regarding JPMorganChase Bank due to her being the supervisor overseeing Chase Bank.

II.          Conflicting information from Ms. Jee regarding complaint procedures.

III.         Mr. David Lewis, who states he is the Community Affairs Officer, appears to take a similar position as Ms. Jee who consistently refuses to take complaints against JPMorganChase Bank, creating considerable problems for UAAD.

See: www.uaadcorp.com and www.chasebankreparation.blogspot.com

 IV.         Variable threats by Mr. Lewis, advising UAAD not to file a complaint.

 V.        Delays and unfair mediation meetings between Chase Bank officials and UAAD representatives arranged by Mr. David Lewis.

A plea to President Bush’s compassion

 Mr. President,

 African Americans are concerned along with all citizens of Louisiana regarding your commitment to the hurricane victims.  Our nations banks claim to have a commitment to assist low-income, moderate-income individuals that should include African Americans under civil rights legislation, meant for African Americans, a regulation named THE COMMUNITY RE-INVESTMENT ACT of 1977 (CRA).  This act was implemented due to racism, red-lining and discrimination practiced by our nation’s banks since Slavery, of which my Father was born.  Our nation’s banks have in their commitments in excess of $4.2 trillion dollars in their CRA commitments. See http://www.uaadcorp.com.  These funds dispersed as meant, will provide economic parity for those most in need and the intent of CRA.  UAAD a 501c3 non-profit ask that you as a compassionate conservative ask The FDIC / OCC both under your control to insist that these agencies not continue their discriminatory practices in enforcing this important civil rights legislation.   With the enforcement of this act as written, and a common cense approach by the FDIC / OCC funds that should be available by Chase the largest financial institution in the state of Louisiana should be made to be utilized to assist the hurricane victims that were discriminated, red-lined and treated in an unfair manner since slavery.  JPMorgan Chase Bank recently agreed to pay reparation payments to African Americans for their despicable acts of using slaves for collateral.  It appears that they are continuing similar practices with their predatory lending practices since slavery.  It is apparent that these funds properly dispensed using the tools provided by this ACT, will allow parity to be created, and help to reduce the budget.  Since your administration, nor the Republican controlled Congress will allow any teeth to be added to this ACT, UAAD ask that in the interest of humanity and fairness, this ACT be enforced with the intent in which it should have been written.

 (see: http://www.uedcinc.com/id12.html.              

You can contact Walter Ellis   uedcinc@aol.com,

 

DRAFT PROPOSAL

                        

e-mail  uedcinc@aol.com  http://www.uaadcorp.com

            http://www.uaadcrahbuc.blogspot.com

United Affirmative Action Development Corp (UAAD), a 501c3 non profit. One of its goals is to encourage JP Morgan/Chase Bank and others to carry out their obligations pursuant to the Community Reinvestment Act of 1977 (CRA). Our efforts from 1995-1999 led to a complaint against Bank One.  After observing our website and blogs, http://www.uaadcorp.com you will understand better our purpose and goals.

 We began a process in 1996 with Grambling State University (GSU), itself a Historic Black University, to ask Premier Bank who was at that time merging with Bank One to provide programs and services to Grambling beneficial to the students and the Grambling community.

 Proposals were presented by UAAD and Bank One officials to place a chair or professorship at GSU. In order for this plan to be implemented as presented the bank would have to recognize UAAD as a partner in a CRA agreement under the Community Reinvestment Act of 1977.

 In addition to the banking proposal we intend to also seek programs to enhance programs to promote homeland security. This will assist federal, state and communities to improve the participation of African Americans in law enforcement throughout America. Our purpose at this time is to seek you interest in pursuing our original goals.

 We are also attempting to build a coalition of civil rights and community organizations and contemplating the filing of a class action lawsuit, using their present membership and UAAD’s intended membership as recipients. Apparently JP Morgan/Chase has ostensibly set aside CRA funds amounting to several billions of dollars to be spent over the next 10 years. We are intent on influencing how and where those funds are spent. If successful we can reasonably anticipate affirmative responses from others of the nation’s financial institutions that are covered by CRA.

 Since 1997 we have filed complaints against first Bank One and recently against Chase Bank.

Case ID #617354 with OCC and http://www.federalreserve.gov/events/publicmeeting/19980813/panel16.htm.

 Additional complaints can be seen at    www.uaadcorp.com

Our 501c3 non-profit Community Organization(s) will issue quarterly CRA ratings reports on our nations banks.

We will utilize the Federal Reserve Board Banks National Reports, state reports, and local branch reports to evaluate banks specific performance.

Reports and their results will be publicized via news conference, weekly radio broadcast, web cast on KTYM.COM and other news media sources.

Banks will be asked to provide their past 2yr Community Performance reports.  Such reports will assist RBD/UAAD in evaluating each banks adherence to the intent of The Community Re-Investment Act of 1977 (CRA). 

 The law provides a framework for depository institutions and community organizations to work together to promote the availability of credit and other banking services to underserved communities. Under its impetus, banks and thrifts have opened new branches, provided expanded services, adopted more flexible credit underwriting standards, and made substantial commitments to state and local governments or community development organizations to increase lending to underserved segments of local economies and populations.

 Our commitment is to insist that banks such as JPMorgan Chase Bank enter into agreements as suggested under CRA in order to provide financial assistance to low-income moderate-income individuals to include African Americans in particular and to eliminate past redlining and discriminatory practices by banks.

 We will lobby Congress, The FDIC, OCC to insist that the bulk of the 4.2trillion dollars banks have committed to CRA will be available to African Americans as intended by CRA which was passed as part of Civil Rights legislation in 1977.  Had Chase Bank provided the bulk of their 800 billion dollar to African Americans as UAAD and ACORN has attempted to negotiate since 1995, many victims of Katrina would have had a better chance of survival.

 The sooner JPMorgan Chase Bank make these funds available to African Americans who are and were the main victims of red-lining, and discrimination,  and the reason this regulation was enacted by Congress, the sooner the Katrina victims and other African Americans will be able to achieve financial stability and economic parity.

 Banks practices of committing the bulk of their CRA funding to Caucasians rather than to African Americans who are the victims, and the reason for enacting the Civil Rights legislation CRA should cease, and these funds need to be channeled to those the act was originally intended.

 CRA agreements negotiated in good faith will be a benefit to both banks and the community they serve or should serve. The bulk of Chase Banks $800 billion dollars commitment should be used to rebuild the Gulf Coast and other urban areas where African Americans are in dire need.

 These funds utilized as the Act intended will help to eliminate poverty and assist the destitute and homeless wherever they exist. 

 RBD/UAAD with a coalition of other community organizations intend to lobby Congress, the FDIC, OCC and our nations banks to address these issues now, not later.

9/11/05

 

WHY CHASE BANK SHOULD NEGOTIATE A CRA AGREEMENT WITH UAAD, WITH EMPHASIS ON ASSISTING THE HURRICANE VICTIMS.

UAAD’s purpose and aim is to negotiate an agreement with Chase Bank to make available low interest loans that can primarily be negotiated under CRA circumstances for low income, moderate income individuals that will include African Americans.  It is our opinion that this act and a good faith effort on the part of Chase Bank will supplement the necessary financial support needed by the flood and hurricane victims.  UAAD’s purpose is to ask Chase Bank to honor our negotiation in order that a process can be developed immediately to assist our members (to include those who are suffering from Katrina) in low interest loans and fulfill the banks CRA obligations at the same time

In addition to fulfilling the banks CRA requirements, our program is a win situation for the bank and the community it serves (see our web site).  UAAD’s proposal consist of community based loan programs micro-managed by UAAD to assist and help provide consultation in order that these low interest loans will be paid back to the participating bank.  These community based loans instituted under CRA guidelines have been successful in the past.  It allows the bank to fulfill its CRA obligations, and meets the prudent loaning practice required by the FDIC.

UAAD would like to meet as soon as possible with the proper official in order to present our proposal .

Thanks,

Walter L. Ellis / CEO

United Affirmative Action Development Corp

UEDCINC@aol.com

www.unitedaffirmativeactiondevelopment.com

866 276-2294    Fax  318 255-9468

UNITED AFFIRMATIVE ACTION DEVELOPMENT CORP (UAAD) PROPOSAL to LIBERTY BANK/ONE UNITED BANK

To Whom It May Concern:

Our past meeting indicated that Chase Bank would support a coalition of your bank, a minority owned bank and UAAD a 501c3 in assisting Chase Bank in improving its CRA commitments in the State of Louisiana.  In a recent conversation with Mr. David Lewis who is the regional OCC Community Affairs official overseeing banks’ CRA activities, stated that providing that UAAD’s protest cease, he would assist in our efforts being funded by Chase Bank, those involving education in particular.  Mr. Lewis also stated he would assist in organizing a forum at Grambling State University (GSU) in order to better explain CRA. 

While in Washington, DC last week Congressional assistants in various offices expressed that congress is encouraging LARGE BANK(s) to build relationships with minority banks and community organizations in order to enhance their CRA programs. 

UAAD would like a meeting with your bank in order to form a coalition as previously submitted.  We would also like to finalize such arrangements by April 1, 2006. 

Items to be discussed:

Proposal to Chase Bank

How Chase can assist UAAD in promoting Chase’s Community Partnership Program, (advertise and promotions).

How UAAD and Liberty Bank can become community partners.

Start up grant (Liberty)

Grant request (Chase Bank)

One United Bank a minority owned bank also expressed an interest in joining with UAAD in this effort. 

UAAD propose that Chase Finance a mini-branch to be established immediately at GSU.  This branch (later to be named) will consist of a board to include Liberty Bank, One United Bank, and the local minority owned Credit Union.  The board will also include an official of Chase Bank, UAAD, UEDC, Grambling City Rep., University Rep., Faculty Rep., and Rep. from Gallot’s office. 

This business center will provide a model in which other centers will be established at all HBUC’s in order to assist Chase Bank in fair distribution of its $800 billion dollar CRA commitment for the following 10 years.

Funding to purchase (old post office building GSU $250,000.00) to be used as a business development center.  UAAD has a 10 day first right of refusal on making arrangements to purchase this property.

The majority of the congressional assistants I met with this past week indicated they were going to suggest that their Congress people provide written support of UAAD’s program.  With the recent support of OCC, your and other minority bank(s) involvement, our efforts will assist Chase in providing in excess of $60 billion dollars to Louisiana in the next 5 years.

UAAD ask that upon receiving this proposal that you review, e-m uedcinc@aol.com.  For additional information see: http://www.uaadcorp.com and http://www.uaadcrahbuc.blogspot

February 21, 2006

 

Memorandum of meeting with Legislative assistant of Congresswoman Maxine Waters

2344 Rayburn Building

Washington, DC 20515

 

This date I met with Mr. Nat Thomas, Ms Waters’s assistant. This meeting was to ask Ms. Water’s office to assist UAAD in its efforts in bringing CRA assistance to the hurricane victims.  This assistance in UAAD’s opinion could be complimented by the $4.2 trillion dollars our nation’s banks have committed to their various CRA programs.  UAAD and others believe that these funds should be allocated to African Americans in particular due to the intent of the Community Re-Investment Act of 1977.  This act, an important regulation of the civil rights act, was implemented due to red lining and discrimination in the African American community in particular.  Upon the bulk of the trillions of dollars being made available to African Americans, with the Katrina victims being a priority, it is our belief that the financial problems of those victims will be resolved sooner rather than later.

Mr. Thomas stated he would revise my request document, and would e-mail it to my office next week.  Mr. Thomas also stated he would provide additional assistance upon our request. 

Both Mr. Barrett from the office of congressman Oxley and Mr. Thomas stated that our complaint had significant merit, and should be pursued. 

February 21, 2006

 

Memorandum regarding meeting with:

 

Mr. Peter Barrett / Counsel to Committee on Finance Services

U.S. House of Representatives

2120 Rayburn Building

Washington, D.C. 20515

 

Mr. Barrett is the counsel to the Finance Services Committee which is chaired by Republican Congressman Michael G. Oxley, met with me today. The purpose of the meeting was to seek assistance from Congress regarding a complaint of our nation’s banks implementing the Community Re-Investment ACT (CRA) and its provisions. (see complaint www.uaadcorp.com  and click on link UEDC CRA BANK.) Mr. Barrett suggested that I contact as many Congress Persons that is on the Committee on Financial Services. The purpose of such contact would be to ask that they support the nature of our complaint.                                                                                                                                           It was indicated that UAAD might be better served if our complaint addressed all banks that were not in compliance to CRA rather than singling out a particular bank.  Mr. Barrett mentioned several times that he would be available to assist UAAD if requested.  He also stated he would e-mail additional information regarding our request.

 

Walter L. Ellis CEO UAAD

This is a request for your public CRA file as regulated under 12 CFR 25.43

 

Ms. Cloman,

United Affirmative Action Development Corp (UAAD), a 501c3 non profit community organization is seeking branch CRA activities for the past 2 years. We ask that these be made available by all separate branches and that each branch post their separate report in order that the public may observe, as required under The Community Re-investment Act of 1977 (CRA). I would appreciate a reply to this request. I was told by Ms. Bridgette Sanders, who stated she was the CRA Representative for the main Ruston branch that she would provide the above request, and today she stated I would have to contact your office in order to receive the report for the Ruston branch. Your indication that you are proud of your bank’s CRA activities should indicate that the public should be aware of same.

 Ms. Cloman it is the concern of UAAD and other organizations, some being Recycling Black Dollars (RBD), the NAACP, and others that your bank is withholding this public information to hide your past and present discriminatory, predatory practices. 

Ms. Sharon Gilstrup who is a supervisor at The Office of the Comptroller of the Currency (OCC), advised that a Small Bank has 20 minutes to produce their CRA performance Report upon request.  Your bank or branches a Large Bank have up to five days to produce your past two year performance reports.

 As the CEO of UAAD on February13, 2006 a request was made for your CRA Preformance Reports at two locations: 

  Chase Bank / LA1-1901 / 400 Texas Street / Shreveport, LA 71101 and Chase Bank on Airline Road in Shreveport, LA.

 UAAD request that these and all branch reports be made available to this 501c3 non-profit, and all organizations and individuals that you are required to provide such reports, under CRA regulations and rules. Your providing and having these reports available on or by February 20 ,2006 would be appreciated.  Our request is that these reports be posted in public view at all branches throughout Louisiana where JPMorgan Chase/Bank operates.

 Your immediate reply to this request is appreciated.

 Respectfully,

 Walter L. Ellis  CEO / UAAD / VP CRA Compliance RBD

25.43 Content and availability of public file.

(a) Information available to the public. A bank shall maintain a public file that includes the following information:

(b) Additional information available to the public--(1) Banks other than small banks. A bank, except a small bank or a bank that was a small bank during the prior calendar year, shall include in its public file the following information pertaining to the bank and its affiliates, if applicable, for each of the prior two calendar years:

(i) If the bank has elected to have one or more categories of its consumer loans considered under the lending test, for each of these categories, the number and amount of loans:

(A) To low-, moderate-, middle-, and upper-income individuals;

(B) Located in low-, moderate-, middle-, and upper-income census tracts; and

(C) Located inside the bank's assessment area(s) and outside the bank's assessment area(s); and

(ii) The bank's CRA Disclosure Statement. The bank shall place the statement in the public file within three business days of its receipt from the OCC.

(c) Location of public information. A bank shall make available to the public for inspection upon request and at no cost the information required in this section as follows:

(1) At the main office and, if an interstate bank, at one branch office in each state, all information in the public file; and

(2) At each branch:

(i) A copy of the public section of the bank's most recent CRA Performance Evaluation and a list of services provided by the branch; and

(ii) Within five calendar days of the request, all the information in the public file relating to the assessment area in which the branch is located.

(d) Copies. Upon request, a bank shall provide copies, either on paper or in another form acceptable to the person making the request, of the information in its public file. The bank may charge a reasonable fee not to exceed the cost of copying and mailing (if applicable).

(e) Updating. Except as otherwise provided in this section, a bank shall ensure that the information required by this section is current as of April 1 of each year.

How in unity we can obtain access to “4.2 Trillion Dollars” in order to establish economic parity for African Americans utilizing our Nation’s Banks CRA commitments.  See:www.uaadcorp.com, and blogs.

 

Join us and make it happen

UAAD is seeking support from Civil Rights and Community Organizations

Your involvement will make a difference in how effective “we” can be in assisting

the hurricane victims and many others.  It is time that this civil rights legislation, The Community Re-Investment Act of 1977 is used to benefit African Americans as well as others.  Funds should be allocated to include African Americans, not primarily to Caucasians as previously and presently practiced.  This is an effort to replace civil rights and to remove “affirmative action”.

 

UAAD insist that the bulk of our Nations Banks CRA commitments be allocated to African Americans.  These allocations must be channeled through Community Organizations as proposed in this Civil Rights legislation.  Our reasons to insist that this allocation be channeled through 

Existing 501c3 non-profits in the African American Community, will allow for more equitable distribution to those these funds were meant.  Since banks have violated the intent of CRA over 30 years of its implementation. More than $4.2 billion should be made available to African Americans in particular.  

 

Bank One promised the NAACP that they would provide $5 million for “Reparation”.  Although they have held back considerably more than $5 million dollars in CRA funds from the African American Community, over

the previous 30 years since CRA was enacted, this also have become another broken promise.

 

The NAACP has asked UAAD to assist in collecting the $5 million promised by Bank One, and we intend to do so.  JPMorgan who recently purchased Bank One has an obligation to allocate these funds as Bank One promised.  JPMorgan Chase Bank have an obligation to allocate the balance of their $800 billion to African Americans in order to began a process that poverty will be reduced, and African Americans can achieve economic parity so long denied by our Nations Banks. 

 

This administration past and present practice will continue to create poverty for African Americans, while allocating billions of dollars to Israel and a questionable war effort.  Our banks must discontinue their discriminatory practices now, not later.  We must insist that Chase and all banks cease their predatory practices, by simply abiding by existing regulations, The Community Re-Investment Act of 1977 (CRA).

 

Congress should insist that banks abide by this legislation.  Chase Bank the largest bank in the State of Louisiana is holding back $800 billion that should be used to assist the hurricane victims Nation wide.  These funds being allocated through Community Organizations as intended by CRA, will began a process to assist the Katrina Victims now, not later. 

 

African Americans should consider The Community Re-Investment Act of 1977 (CRA) as the “Reparation act of 1977”.  UAAD insist that Banks Nation wide must allocate this reparation in order to address the extreme poverty and injustice banks have created in the Black communities.  UAAD intend to lobby Congress and our Nations Banks, file a class action suit on behalf of all African Americans, to provide a form of reparation this government has promised, and never intend to provide.     

February 6, 2006

 

Honorable Congresswoman Maxine Waters

 

RE:  Request Congressional Hearing Regarding Community Reinvestment Act, 1977

 

Dear Congresswoman Waters:

 

I am writing to request a Congressional Hearing on the misinterpretation of the 1977 Community Reinvestment Act.  The landmark legislation was a Civil Rights victory to benefit African Americans and other people of color.  Today, financial institutions have applied a broader interpretation, using it as an Affirmative Action practice to benefit other groups who were not the intended beneficiaries.

 

To date, the nation’s banks have over $4.2 trillion in CRA commitments.  However, our investigation of CRA activity nationwide has shown that the majority of the country’s banks allocations have not been made to people of color.  For example, J.P. Morgan Chase Bank had a CRA budget commitment of $800 billion since April 2004; yet out of $69 billion dollars, disbursed so far the majority of the disbursement has gone to none minority interests.

 

If these CRA commitments were to be used to provide assistance to hurricane victims, it would benefit both the bank and the community at large.  Given the fact that J.P. Morgan Chase Bank is the largest bank in Louisiana, we believe it is necessary to apply some enforcement to this legislation now rather than later, to empower urban communities and cities effected by Hurricane Katrina.

 

United Affirmative Action Development Corp, a Louisiana-based 501(c)3 (www.uaadcorp.com),  is working with Recycling Black Dollars, a Los Angeles-based 501(c)3 (www.rbdglobal.com), and we intend to build a coalition with other organizations such as ACORN, the NAACP, and the Greenlining Institute to demand compliance.  I have spoken to Sharon Gilstrap of the Office of the Controller of Currency (OCC) in Houston, and she indicated that a hearing before Congress would be appropriate to reinstate the spirit of the Civil Rights legislation.  With the assistance of Congress and supporting regulatory agencies, we intend to form an agreement with banks that aren?t in compliance with this legislation.   

 

We would appreciate it if you would facilitate this worthy effort of setting up a Congressional Hearing.  I am available if you have any questions.  I can be reached at, (866) 276-2294 in my office or please feel free to use my cell phone number at, (951) 452-9160.

 

Thank you for your time and consideration.  I look forward to hearing from you soon.

 

Kind regards,

 

Mr. Walter Ellis, CEO of United Affirmative Action Development Corp

Mr. Muhammad Nassardeen, CEO of Recycling Black Dollars

Complaint to FDIC 1-19-06

 

UAAD a 501c3 non profit is seeking CRA performance reports from local Chase Banks in Louisiana. They provide the statewide reports and refuse to provide individual branch reports. Chase Bank’s CRA rep Mr. Mike Scott also refuses to discuss CRA arrangements presented by this organization, United Affirmative Action Development Corp (UAAD). A previous complaint has been filed with your agency.

January 19, 2006

NAACP Legal Defense Fund

Dear Vivian,

I spoke with Attorney Matthew Angelo who stated that do to case loads the NAACP LDF couldn't provide assistance at this time. He indicated that the LDF does have an interest and have previously filed against predatory bank lending practices. He stated that in his opinion our efforts are worthwhile. His suggestion was that we contact Legal Aid or the State Bar Association. We would appreciate a written reply of your denial from LDF that may assist in our seeking legal aid.

Respectfully,

Walter L. Ellis, CEO UAAD

 

 

To: NAACP Legal Defense Fund

     49 Hudson St., Ste. 1600

     New York, NY 10013

     Attn: Vivian, Intake Coordinator

 

UAAD is requesting a meeting with NAACP/LDF between 1/24 - 1/27/06 to discuss proposal for NAACP LDF,s assistance in elimination racial discrimination in bank loans. UAAD intend to announce its intent to protest JP Morgan/Chase banks predatory lending practices the 1st week of February 2006. Our intent is to also offer solutions to these past practices and in particular how our efforts will benefit the hurricane victims on the Gulf Coast. Enclosed is a support letter UAAD is requesting from the Louisiana Conference of Branches of the NAACP. We are also seeking the support and are in contact with several local branches. UAAD intends to form a coalition between NAACP, ACORN, SCLC, Operation Push, Urban League and other community organizations in its efforts against Chase Bank. We would appreciate an immediate reply for such a meeting, in order that our news announcement can be effective and successful.

Respectfully,

Walter L. Ellis, CEO UAAD

 

 

 

Vivian, Intake Coordinator, NAACP Legal Defense Fund

Your statement since Monday was that your office would advise as to what position the NAACP Legal Defense Fund would take regarding our request of filing a complaint against Chase Bank. We have re-arranged our web site to better explain our objectives. The significance of our recent success with the bank is our publicizing our request on our web sites http://www.uaadcorp.com . We would first like to meet with the proper representative of NAACP LDF and as stated previously, link our web site with NAACP National and LDF. UAAD is also organizing an investigative protest of Chase Bank. UAAD has a retired FBI agent as a consultant. My previous profession was that of a police officer and can assist in investigations of the bank.

The local branch here in Ruston has provided a national CRA performance evaluation but refuses to provide the branch’s CRA performance evaluation report as regulated under CRA.

Due to the lack of funding, our 501c3 intends to move forward with this important project. We would appreciate an answer from NAACP LDF to our request. If you can’t assist we intend to move forward and find other means.

I would appreciate an answer to our request and I am looking forward to hearing from you soon.

Respectfully,

Walter L. Ellis

NAACP Legal Defense Fund                                       December 9, 2005

49 Hudson St

Suite 1600

New York, NY 10013

ATTN: Vivian

 

Vivian:

 

United Affirmative Action Development Corp (UAAD), a 501c3 non profit.  One of its goals is to encourage JP Morgan/Chase Bank and others to carry out their obligations pursuant to the Community Re-investment Act of 1977 (CRA). Our efforts from 1995- 1999 led t a complaint against Bank One. After observing our web site and blogs, http://www.uaadcorp.com , you will understand better our purpose and goals.

 We are also attempting to build a coalition of civil rights and community organizations and contemplating the filing of a class action lawsuit, using their present membership and UAAD’s intended membership as recipients. Apparently J P Morgan/Chase has ostensibly set aside CRA funds amounting to several billions of dollars to be spent over the next 10 years.  We are intent on influencing how and where those funds are spent.  If successful we can reasonably anticipate affirmative responses from others of the nation’s financial institutions that are covered by CRA.

 We look forward to support from the Legal Defense Fund and are willing to provide you with whatever you need to assist you in reaching a decision in this regard.

 

 Sincerely, Walter L. Ellis, CEO/UAAD

Letters of Request to NAACP

 

The NAACP Legal Department                                     September 28, 2005

4805 Mt. Hope Drive

Baltimore, MD 21215

 

To Whom It May Concern:

My name is Walter L. Ellis, CEO/Founder of United Affirmative Action Development Corp (UAAD) and United Equity Development Corporation (UEDC).

UAAD a 501c3 non profit was organized to negotiate agreements under the Community Re-Investment Act of 1977 (CRA). UAAD and UEDC (for profit) have been in negotiations with First Premier Bank of Louisiana, who merged with JP Morgan Chase Bank. See website www.unitedaffirmativeactiondevelopment.com and our blog archives.

Enclosed are documents of present and past negotiations with JP Morgan Chase/Bank One starting in 1995 with Premier Bank. Our aim is to file a class action suit on behalf of our members who should include a large portion of NAACP members. As a former police officer I believe Chase Bank is guilty of numerous violations of the CRA Act, the RICO Act and other violations.

We intend to put a temporary hold on negotiating with Chase Bank awaiting your reply to our request for legal assistance in this matter.

We are applying for a community partnership arrangement with Chase Bank under our 501c3 (UAAD) in order to assist the hurricane victims and build affordable housing. This program is designed to assist in down payments for these and other victims.

We would like a reply and hope to get assistance.

 

Sincerely, Walter L. Ellis, CEO UAAD/UEDC

 

NAACP Legal Defense Fund                                       December 9, 2005

49 Hudson St

Suite 1600

New York, NY 10013

ATTN: Vivian

 

Vivian:

 

United Affirmative Action Development Corp (UAAD), a 501c3 non profit.  One of its goals is to encourage JP Morgan/Chase Bank and others to carry out their obligations pursuant to the Community Re-investment Act of 1977 (CRA). Our efforts from 1995- 1999 led t a complaint against Bank One. After observing our web site and blogs, http://www.uaadcorp.com , you will understand better our purpose and goals.

 

We are also attempting to build a coalition of civil rights and community organizations and contemplating the filing of a class action lawsuit, using their present membership and UAAD’s intended membership as recipients. Apparently J P Morgan/Chase has ostensibly set aside CRA funds amounting to several billions of dollars to be spent over the next 10 years.  We are intent on influencing how and where those funds are spent.  If successful we can reasonably anticipate affirmative responses from others of the nation’s financial institutions that are covered by CRA.

 

We look forward to support from the Legal Defense Fund and are willing to provide you with whatever you need to assist you in reaching a decision in this regard.

  Sincerely, Walter L. Ellis, CEO/UAAD

 

December 14,2005

Vivian, Intake Coordinator, NAACP Legal Defense Fund

Your statement since Monday was that your office would advise as to what position the NAACP Legal Defense Fund would take regarding our request of filing a complaint against Chase Bank. We have re-arranged our web site to better explain our objectives. The significance of our recent success with the bank is our publicizing our request on our web sites http://www.uaadcorp.com . We would first like to meet with the proper representative of NAACP LDF and as stated previously, link our web site with NAACP National and LDF. UAAD is also organizing an investigative protest of Chase Bank. UAAD has a retired FBI agent as a consultant. My previous profession was that of a police officer and can assist in investigations of the bank.

The local branch here in Ruston has provided a national CRA performance evaluation but refuses to provide the branch’s CRA performance evaluation report as regulated under CRA.

Due to the lack of funding, our 501c3 intends to move forward with this important project. We would appreciate an answer from NAACP LDF to our request. If you can’t assist we intend to move forward and find other means.

I would appreciate an answer to our request and I am looking forward to hearing from you soon.

Respectfully,

Walter L. Ellis

 

 

December 9, 2005

 

Ms. Cloman,

United Affirmative Action Development Corp (UAAD), a501c3 non profit community organization is seeking branch CRA activities for the past 2 years. We ask that these be made available by all separate branches and that each branch post their separate report in order that the public may observe, as required under The Community Re-investment Act of 1977 (CRA). I would appreciate a reply to this request. I was told by Ms. Bridgette Sanders, who stated she was the CRA Representative for the main Ruston branch that she would provide the above request, and today she stated I would have to contact your office in order to receive the report for the Ruston branch. Your indication that you are proud of your bank’s CRA activities should indicate that the public should be aware of same. This being the case it should benefit your bank in our promoting your concerns. Our reason for asking to see these reports is to confirm Mr. Scott’s denial that JP Morgan/Chase Bank does not discriminate against African Americans. Attached is an email recently received from Mr. Mizel Scott, VP CRA JP Morgan/Chase Bank.

For additional information see: http://www.uaadcorp.com

Respectfully,

MILLIONS SUFFER WHILE CHASE BANK HOLD BACK $800 BILLION THAT SHOULD BE MEANT FOR AFRICAN AMERICANS

 

Dear Mr. Ellis:
We have received a number of e-mails from you commenting upon Chase's CRA performance in Louisiana and requesting a "CRA Agreement" between United Affirmative Action Development and Chase.  We strongly object to your comments that Chase engages in discriminatory or redlining practices.  In our September response to similar e-mails from you, we informed you that it is not Chase's policy to enter into CRA agreements because we believe our record of helping to strengthen and develop the communities in which we do business speaks for itself.  We also sent you in September the most recent CRA public evaluation for Bank One, N.A. Illinois, (now Chase) which includes an evaluation of the bank's CRA performance in Louisiana.   The OCC rated Bank One's performance in Louisiana as "Satisfactory" overall and rated the Lending test "High Satisfactory" and the Investment Test "Outstanding."  It noted that Bank One had good performance in LMI geographies and lending volume and excellent performance to LMI borrowers.
Again, if you or your organization wishes to apply for a small business or consumer loan, information is available on Chase's web site, www.chase.com.
Respectfully,  

 

 

To: Mike Scott, JP Morgan/Chase Bank

This is a suggestion on –

HOW TO MAKE POLITICAL, SOCIAL AND EVENTUALLY REACH ECONOMIC PARITY FOR “ALL” LOUISIANA CITIZENS

 

Have community organizations, politicians insist on Chase Bank and other banks meet their CRA obligations by providing funding through CRA agreements as regulated under the most important civil rights regulation, “The Community Re-investment Act of 1977”.

Our nation’s banks have according to recent reports $4.2 trillion dollars in CRA funds that should be available for African Americans since this important legislation was passed and implemented due to red-lining and discriminatory practices in Black neighborhoods.

UAAD is in the process of negotiating with JP Morgan Chase Bank to participate with their $800 billion to be allocated the next 8 to 10 years. A reasonable portion being distributed through UAAD’s proposals to Chase Bank will benefit those for whom the funds were meant.

Mr. Scott, I would like to hear from you soon in order that we can implement an agreement. Many are suffering unnecessarily while you are taking the position of assisting your bank (Chase) in denying African Americans funding provided by CRA regulations. This is my response to your last correspondence.

For more information and the success or lack of success of the negotiations with Chase Bank see:

www.uaadcorp.com

www.uedcrabank.blogspot.com

www.uaadcra.blogspot.com

www.uaadcrahbuc.blogspot.com

 

December 5, 2005

 

Mr. Scott,

Your email dated 12-1-05 regarding Chase Bank’s performance in Louisiana is perplexing. UAAD inspected the CRA Performance of Premier Bank’s main branch in Ruston, LA in 1995. This branch’s performance did not indicate any loans or CRA contributions to African Americans. On 11/25/05 our office spoke to Ms. Bridgette Sanders, the branch manager who first stated that I should get in touch with Charlita Cloman in Shreveport. Then she stated that a CRA representative at the Ruston branch would prepare the report. She later stated that she would complete the report and our office could pick it up on Saturday or Monday. We were given approximately 275 pages which included the state of Louisiana, but it did not include the Ruston main branch performance for the past 2 years. Since we have a previous report that indicate poor performance, we would ask that you advise Ms. Sanders to provide the report she promised on 11/25/05.Louisiana’s most recent performance report (see report) will indicate why the lack of service to African Americans in New Orleans and other areas of Louisiana, help create the poverty that existed and still exist. See www.uaadcorp.com and blogs. See State of LA/N.O. PMA pg C-11 of Chase Bank Performance Evaluation which indicates that Chase Bank practiced predatory lending then and now. Give me your opinion.

 

 

 

THE COMMUNITY RE-INVESTMENT ACT OF 1977 (CRA)

 

The law provides a framework for depository institutions and community organizations to work together to promote the availability of credit and other banking services to underserved communities. Under its impetus, banks and thrifts have opened new branches, provided expanded services, adopted more flexible credit underwriting standards, and made substantial commitments to state and local governments or community development organizations to increase lending to underserved segments of local economies and populations.

 

 

A COMPLAINT AND REQUEST FOR CRA ACTIVITIES – CHASE BANK RUSTON, LA

 

Ms. Bridgette Sanders, CRA Mgr                                 December 5, 2005

Chase Bank

400 N. Trenton St

Ruston, LA 71270

 

Ms. Sanders,

This is a complaint regarding our conversation 11/25/05 whereby you indicated you would furnish United Affirmative Action Development Corp (UAAD), a 501c3 non-profit community organization, a copy of your branch’s recent CRA activities. You first stated that your CRA representative would provide the documents and later stated that you were the CRA representative and the report could be picked up on Monday (11/28/05). UAAD was given a performance evaluation from the OCC, which shed little light on your branch’s performance here in Ruston, LA. UAAD would appreciate a recent activity report of the Chase Bank branches here in Ruston, in order to compare with the one received prior to Bank One purchasing Premier Bank in 1996. UAAD would like to have this report by 12/6/05.

As the closest CRA official of Chase Bank, I would appreciate you meeting with staff of UAAD and explain how your branch carries out its CRA obligations. A meeting sometime this week would be beneficial. Topics to be discussed at such a meeting would include how undergraduate and graduate students at Grambling State University (GSU), a HBUC, can contribute to and benefit from the bank’s CRA commitments.

In 1995 when the president of Premier Bank, Mr. Johnnie Maxwell, asked UAAD to assist the Ruston’s Banks in improving its CRA performance in order to amplify the merger with Bank One, an inspection of Premier’s CRA involvement in the community showed that it excluded African Americans. UAAD would ask that you provide an updated activity report of the Ruston Branch’s in order that we may discuss a satisfaction or how to improve the bank’s performance in the low, moderate income, to include the African American community. Thanks for your cooperation. See our website www.uaadcorp.com to better understand our purpose and goals.

Walter L. Ellis

CEO UAAD

 

 

 

TO:                 Mizel Scott, VP of CRA, State of Louisiana, JP Morgan/Chase BAnk

 

FROM:           Walter L. Ellis, CEO UAAD

 

RE:                 Please forward this request to the new CEO, Jamie Dimon, of JP Morgan/Chase Bank

Mr. Dimon,

United Equity Development Corporation (UEDC) an affiliate of United Affirmative Action Development Corp (UAAD) asks that you review UAAD’s request to negotiate a CRA agreement with Chase Bank. It is important to began such a process immediately in order to assist the hurricane victims who are yet suffering from Chase Bank’s lack of adherence to The Community Re-investment Act of 1977 (CRA) for the community you serve or should serve to include African Americans, as well as other low-income, moderate income individuals and industries.

After reading about your background and experience in the banking industry (see www.uaadcorp.com ), our 501c3 ask you to investigate our purpose and goals. This article stated that you had a “socialist philosophy” which I hope means you will relate to African Americans as well as others in need of financial assistance from Chase Bank. By chance you decide to continue to exclude African Americans and people of color, then UEDC would ask that you contribute your international skills in banking in assisting UEDC in negotiating agreements with foreign banks to form minority banks, credit unions and other minority financial institutions that will benefit African Americans as well as others. This alliance when completed will allow financial benefits to African Americans, to poor and wealthy foreign countries and at the same time with your help will allow Chase Bank to contribute to their CRA activities.

Respectfully,

 

Walter L. Ellis

CEO UAAD

 

P.S. Mr. Scott I would appreciate you forwarding this important message to Mr. Dimon. I would also appreciate your response to this and other requests you previously have ignored.

 

 

 

December 2, 2005

 

Mr. Julius Kimbrough

Liberty Bank

Baton Rouge, LA

 

Mr. Kimbrough:

I would like to thank you for meeting with me at Liberty Bank on November 30, 2005. I would like to confirm our conversation regarding your bank’s willingness to assist United Affirmative Action Development Corp (UAAD) in negotiating agreements under CRA with Chase Bank. According to our conversation you stated that in regards to a conversation you had in the morning of our meeting, Mr. Scott of Chase Bank was willing to accept a proposal from UAAD to establish a micro business development center at Grambling State University (GSU) and other Historic Black Colleges and Universities (HBCU). You indicated that based on the information I presented verbally to you this date, you believe that Chase would assist in financing such a program, provided UAAD could show an ability to perform.

 

After introducing UAAD’s consultant, Mr. Nathan Thornton, the director of the University of Louisiana at Lafayette’s, Micro Business Development Center who also founded the Micro Business Development Center at Southern University at Baton Rouge, Louisiana, your reply was that his credentials would certainly meet the requirements of Liberty Bank.

 

We will submit our request to Liberty on or by December 15, 2005.  I would appreciate a reply via e-mail or mail in order that we can make the necessary arrangements to hire the necessary consultants to advance this important project.

 

Respectfully

 

Walter L. Ellis,

CEO of UAAD.

 

 

September 27, 2005

 

Ms. Reynolds

I received your email dated 9/26/05 and your bank’s most recent performance evaluation for Bank One (all 274 pages).

On a separate note I asked whom I would speak to or could meet with in order to discuss a CRA agreement with Chase Bank/Bank One. Your reply was that individual who at the time of our conversation you were unable to identify, would be in your Chase Bank, New York office. You stated it would be the following week before you could contact that individual. You also stated you would pass on that information when you contacted him or her. I also asked what your position with the bank was and if you were a CRA official capable of discussing an agreement and you again stated that person is in the New York office.

You didn’t give me your position with the bank and I would appreciate knowing what your title is in the event UAAD may enter into an agreement with Chase Bank as you related that there were other opportunities offered by your bank to assist community organizations such as UAAD, a 501c3 non-profit.

I asked that you review our web site in order for you to understand that Bank One when it purchased Premier Bank, UAAD was invited by Premier to assist in enhancing its CRA programs. Bank One CRA officials also discussed agreements with UAAD, verbally and in writing. After the merger was finalized UAAD filed a complaint with the FDIC and OCC due to the bad faith negotiations on the part of Bank One. (documents are available)

So I say to you, Ms Reynolds that I strongly object that you would accuse UAAD or me of making false accusations regarding Chase Bank being involved in discriminatory practice, but according to Premier and Bank One officials, they clearly stated that their banks were guilty of both red-lining and discriminatory practices. There may come a time when these charges can be brought out for Congress, the courts and the public to review. I personally do not need your web address in order to find the nearest Chase Bank, I’m aware of Chase Banks lending practice to African Americans, in particular, and believe that our CRA proposal will assist in alleviating your bank’s present and past performance.

UAAD’s aim and goals is to assist Chase Bank in providing economic parity to “all” in the community your bank serves. Our proposal entails programs that will allow Chase Bank to enter into an agreement with benefits for the community and “Chase Bank consistent with safe and sound banking practices.

Your immediate reply would be appreciated.

Sincerely,

Walter L. Ellis, CEO UAAD/UEDC

 

 

September 23, 2005

Dear Ms. Weaver,

We spoke last week and you said that you would send me the last 2 years of your bank’s CRA activity. I am still waiting for the reports. You also mentioned that Ms. Terry Wade Ottley, your CRA representative would get in touch with me. Again I am still waiting. Please let me know when I can expect the reports and Ms. Ottley’s call. Thank you.

Walter Ellis, CEO/UAAD

 

 

September 23, 2005

Ms. Cloman,

In our conversation this date you stated that your bank has several Community Partnership arrangements with 501c3 non-profits such as UAAD. Would you provide me with a copy of those arrangements in order that we may model our partnership with your bank? Could you also send a copy of the past two (2) years of you CRA activity for Bank One – Texas and Louisiana?

Thank you,

Walter Ellis, CEO/UAAD

 

 

 

September 23, 2005

 

Economic Parity

 

To Whom It May Concern:

African Americans in this country will never achieve economic parity as long as institutions as JP Morgan Chase Bank are allowed to violate banking regulations and fail to uphold moral obligations. This bank not only cares less about rules and regulations set by federal regulations, they extend their wrongful acts by paying their officials to cover-up and falsify the enforcement of these regulations. Officials of Chase bank, on several occasions expressed to me that they are not obliged to adhere to the regulations under the “Community Re-investment Act of 1977”. Economic parity will never be achieved in the African American communities that JP Morgan Chase Bank serves until the bank adheres to the CRA requirements.

The Community Re-investment Act of 1977(see www.unitedaffirmativeactiondevelopment.com and the blog) was instituted because of red-lining and discrimination by our nation’s banks. Had it previously been enforced by organizations such as UAAD/UEDC, those poor souls in the 9th ward of New Orleans would not have had to suffer the inequality, deprivation due to economic parity that Chase Bank continues to practice, regarding people of color. Now is the time to begin a process to right past discriminatory practices. UAAD is seeking support and assistance from congressional, governmental, civil rights, religious and community organizations. UAAD ask that Chase Bank enter into a CRA agreement to help those in the community that they serve. This will benefit the community and Chase Bank, both financially and socially.

Sincerely,

Walter Ellis, CEO/UAAD

 

 

September 21, 2005

Ms Reynolds,

Thank you for calling me this morning. As you are aware UAAD is seeking to negotiate a CRA agreement with Chase/Bank One. (See our website www.unitedaffirmativeactiondevelopment.com) I did speak to Ms. Kim Weaver this past Friday and she stated she would mail me your CRA performance for the past 2 years. As of yet I have not received these statements. Ms. Reynolds you also stated that the Bank does not enter into agreements as UAAD requested. You also asked if UAAD, a 501c3 non profit had investments to participate with the Banks contributions. I advised that we were seeking to negotiate as we had previously with Premier Bank and Bank One, an agreement to assist our members in gaining low interest loans, and those members to include African Americans as I believe the original intent of CRA. Your final statement as I recall was that though your bank (Chase) does not enter into agreements as I explained, you stated "let’s talk about it and there may be a way we can meet your needs and ours". I consider this a positive statement on the banks behalf and ask that you or an official with the authority to receive, accept and negotiate an agreement be provided as soon as possible. We are speaking to members and other organizations especially the Katrina Hurricane victims on a daily basis with expectations that bank assistance is forth coming. With my understanding and information I have passed on to those in need it is important that you or an official with the proper authority can contact me in writing and let me know if and why an agreement can or cannot be negotiated with Chase Bank under the Community Investment Act of 1977 (CRA). Time is of the essence, my family, my members, and many others have suffered and continue to suffer due to past red lining by your bank and others. These same individuals and the victims of Hurricane Katrina need our and your help now and later. Please reply

 

 

 

9/11/05

 

WHY CHASE BANK SHOULD NEGOTIATE A CRA AGREEMENT WITH UAAD, WITH EMPHASIS ON ASSISTING THE HURRICANE VICTIMS.

 

UAAD’s purpose and aim is to negotiate an agreement with Chase Bank to make available low interest loans that can primarily be negotiated under CRA circumstances for low income, moderate income individuals that will include African Americans.  It is our opinion that this act and a good faith effort on the part of Chase Bank will supplement the necessary financial support needed by the flood and hurricane victims.  UAAD’s purpose is to ask Chase Bank to honor our negotiation in order that a process can be developed immediately to assist our members (to include those who are suffering from Katrina) in low interest loans and fulfill the banks CRA obligations at the same time

 

In addition to fulfilling the banks CRA requirements, our program is a win situation for the bank and the community it serves (see our web site).  UAAD’s proposal consist of community based loan programs micro-managed by UAAD to assist and help provide consultation in order that these low interest loans will be paid back to the participating bank.  These community based loans instituted under CRA guidelines have been successful in the past.  It allows the bank to fulfill its CRA obligations, and meets the prudent loaning practice required by the FDIC.

 

UAAD would like to meet as soon as possible with the proper official in order to present our proposal.

 

 

State of Louisiana

New Orleans PMA

The BONAI AA consists of the entire New Orleans MSA including Jefferson,

Orleans, Plaquemines, St. Bernard, St. Charles, St. James, St. John the Baptist,

and St. Tammany Parishes. The bank ranks second in the New Orleans geography

with a deposit share of 18.93% on $3.5 billion as of June 30, 2003. Hibernia

National Bank ranks first at 27.16% and Whitney National Bank ranks third at

17.33%. There are 39 FDIC insured institutions in the MA, but the market is fairly

concentrated in the top 3.

 

The systemic problems of poverty and education, which are dominant throughout

the state, are most prevalent in New Orleans. In the Orleans Parish, nearly 28

percent of the population live in poverty, severely limiting lending opportunities.

The educational system has been a major factor in the state’s inability to attract

new and high-paying jobs. The median family income is $45,774 and 17.37% of

households are living below the poverty level.

 

The well-developed port, pipeline, and rail infrastructure, including strategic port

facilities for domestic and international trade are an area strength as is the strong

performance in leisure and convention-related tourism. A weakened dollar renders imports more expensive and hence weakens cargo growth and impinges job growth at the Port of New Orleans. The household bankruptcy rate remains higher than the national average, but has been flat of late. Boding well for future employment is the downward trend in business bankruptcies.

 

There is a significant shortage of affordable single-family housing units available in LMI tracts. The ‘water-locked’ limitations, aging housing stock, and the level of

deteriorated and abandoned properties compounds the shortfall. The housing

department estimates there are over 20,000 blighted and abandoned properties in Orleans Parish. The city is using the adjudication process to take back these

properties and donate them to non-profit organizations for rehabilitation into

affordable housing stock. This process is lengthy, taking from 18 to 36 months

per house to complete. Many of the houses in their current condition would not

meet the standards for any type of FHA, VA, or conventional loan program.

 

The need for public housing is great. Four public housing properties in New

Orleans have been deemed non-viable by federal standards. Since 2000, the

Louisiana Housing Finance Agency awarded 14 tax credit projects in the New

Orleans MSA.

 

 

 

Letter from Bank One  Columbus, OH dated 2/96

Mr. Ellis,

As a follow up to our telephone conversation, I have exchanged calls with representatives fo Premier Bank and they are aware that you and I have spoken. I have discussed your request for assistance with Aline Creed of Premier in Baton Rouge. She advises me that she and Nathan Thornton have been in contact with the bank's Public Funds Department and that they intend to visit with you at some date in the near future regarading facility needs in Grambling.I shared with Ms Creed our willingness to assist,and that our community development resources were available to her. I would encourage you to continue your dialogue with Ms. Creed and Mr. Thornton. They have assured me that they are making every effort to nderstand the scope of issues in Grambling and that they intend to fully respond to those issues.Please do not hesitate to contact Ms Creed if you have any continuing concerns. We look forward to be being of assistance and having the opportunity to address the lending needs of the Grambling market.

 

Julia F. Johnson, Senior Vice President

 

 

Letter from Bank One  dated 9/98

Mr. Ellis,

This letter is being written,so as to provide a definitive position by Bank One with you and your organization. The conclusions reached are based in part on the following: Your organization, at this time does not have an active membership; you reside in California and Banc One has no charter in that state. We are prepared to continue discussions with you about how your organization and Banc One can work together in communities where we have a banking presence; but we do not feel that your organization, at this time would warrant any funding. We agree with your contention that Premier Bandk and you had discussions about a proposed agreement with your group in 1995 and that there were continued discussions after Banc One acquired Premier Bank in early 1996. However, no agreement was ever finalized nor executed. During the last two plus years since thosediscussions, you have moved back to California, not obtained any legal status for the UAAD group, not developed the organization, nor have any substantiated clients. We further acknowledge thqat during the dicussions about a proposed agreement, that Premier was reviewing whether it would be appropriate to pay you a commission for transactions referred to Premier when a closed loan resulted; however, this was a part of the proposed agreement discussed above that was never executed. We further contend that there have never been any closed loans from any referral originating from yourself. Our public file is available for your review at anytime.

 

Jerry Killingsworth

 

 

Letter from First USA Partners 8/99

I would like to thank you for providing First USA Bank with the opportunity to bid on the affinity credit card business for UEDC. We are currently looking at groups with a membership or 20,000. Unfortunately your current membership of 2,500 does not meet the bank's present size requirements, therefore I must respectfully decline at this time. I wish you success with your organization and will be happy to reevaluate the opportunity as your membership grows.

 

Suzanne M. Devoe, Vice President Research

 

11/21/05

        

A request for assistance and funding    (UAAD)

 

Mr. Scott,

United Affirmative Action Development Corp (UAAD) has a request of JPMorgan / Chase Bank that you may assist in fulfilling. UAAD is seeking funding in order to finalize negotiations on an agreement under The Community Re-Investment Act of 1977(CRA).  When our organization began negotiations with Premier/Bank One several funding request were made. We were told that $20,000.00 could be made available at that time.  We were negotiating with Bank One for $400,000.00.  UAAD would ask that you assist us in obtaining a $20,000.00 start-up grant in order to proceed with this important program, providing assistance to the Hurricane victims and others in the community your bank serves. 

UAAD a 501c3 non-profit also request assistance from your department in development this agreement.  For instance in 1996 Bank One assigned Mr. Nathan Thornton the VP of your CRA department to assist in development, where several agreements were negotiated.  This assistance was very beneficial to this non-profit, and reading your recent Community Partnership proposal this type of assistance is available to such organizations as UAAD whether negotiating an agreement or assisting those you serve.

Walter L. Ellis

CEO UAAD

 

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