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

Home | TRUCKERS REPRESENT NINETY-NINE PERCENTERS | FEMA/KATRINA COMPLAINT | About CRA | Truckers Complaint | Justice for Blacks | Driving While Black | Banking While Black | UEDCRABANK | UAAD BWB | UEDC/CRA PROPOSAL | Chase Bank Reparation #2 | Chase Bank & Slavery | Chase Smart Start LA | AmSRegionsCRA | Chase Affinity Proposal | The Feds Regulate and Collabrate With Banks | UAAD Complaint to FDIC | UAAD Complaint | Youtube.com/uaad23 | UAAD-HBCU CRA | The FEMA Story | UAAD Katrina Recovery | Black News / JP Morgan's Slave Ties | NAACP Bank Rating | UAAD - Coalition Partners | UAAD CRA HBUC | Louisiana Asso. of Nonprofit Organizations | NAACP | Recycling Black Dollars | SCLC | UEDC/CRA PROPOSAL | UAAD Mission | Principals | Contact Us | Membership Form | Policy Link | FAQ and Links
UAAD Banking While Black

Banking On Equal Opportunity

By Hugh B. Price

President

National Urban League

  Most people who live outside of Washington D.C. have probably never heard of the Community Reinvestment Act. Yet, though unsung, the CRA is one of the most important pieces of civil rights legislation Congress has ever passed.  See link: banking while Black

  This article appeared in USA Today; this is an edited version

"Banking while Black" hurts homeowners

African-Americans and Hispanic consumers face a double whammy. First, they are less likely than whites to own their homes. According to the Survey of Consumer Finance, 47% of African-Americans and Hispanics are homeowners, compared with 74% of whites. But even when African-Americans and Hispanics own their homes, they face lending discrimination when they refinance.        See link: banking while Black

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

We are asking community and civil rights organizations to assist in stopping this merger.  This process will create circumstances whereby these banks will negotiate in good faith CRA agreements with community organizations as required under the Civil Rights Legislation, the COMMUNITY RE-INVESTMENT ACT of 1977.

 

 

 

Banking While Black

 

(This article appeared in USA Today; this is an edited version)

"Banking while Black " hurts homeowners African-Americans and Hispanic consumers face a double whammy. First, they are less likely than whites to own their homes. According to the Survey of Consumer Finance, 47% of African-Americans and Hispanics are homeowners, compared with 74% of whites. But even when African-Americans and Hispanics own their homes, they face lending discrimination when they refinance. This week, the National Community Reinvestment Coalition (NCRC) released a report on credit discrimination with troubling findings. Consumers living in areas with more minority residents are more likely to have mortgages with interest rates higher than "prevailing and competitive" rates. Some get these sub-prime because they have poor credit. But far too frequently, the problem is lending discrimination. Often, African-Americans, Hispanics and in some cases, elderly buyers who qualify for market-rate loans are steered to high-cost loans. This is especially true when they live in heavily black or elderly areas.In response to racial profiling on highways, some activists coined the term "driving while black". NCRC president John Taylor does them one better when he notes that "banking while black or elderly means that most are most likely to get gouged by high interest rates and fees." NCRC says the broken credit system can be fixed if the Federal Reserve Bank increases its oversight on anti-discrimination and fair lending laws, and if existing laws are better enforced. Because incomes were fairly stagnant in 2002, much of Americans' consumer spending has been financed by credit cards and home-equity credit. Too many African-Americans and seniors who are helping to keep the economy afloat are paying extraordinarily high fees to do so. That 's a lump of coal in a Christmas stocking, an injustice that needs to be rectified.

Commentary by Julianne Malveaux

April 30,2006

JPMorganChase Bank’s commitment to“REPARATION”?

 After making a commitment to “REPARATION” of a measly $5 million dollars, this bank’s intent is to distribute these substandard funds in a manner that it will benefit Caucasians and very little to African Americans.  This is a similar manner in which Chase bank distributes its Community Partnership funds that should be meant for African Americans.  See:  http://www.uaadcorp.com.  This is the manner in which JPMorganChase Bank has operated since they held slaves as collateral.  JPMorganChase Bank committed $800 billion dollars in 2004 that should have been for “REPARATION”, but instead has been committed to the advancement of Caucasians.  This administration and its regulatory agencies support JPMorganChase and its racist discriminatory practices.  UAAD ask Move-On, Congress, to assist in ending these practices. There is no reason why these commitments by Chase and other banks in excess of $4.2 trillion dollars shouldn’t be used to assist the hurricane victims and other African Americans in need, suffering since slavery.

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

http://www.chasebankreparation.blogspot.com

 

JPMorganChase Bank’s contribution to African Americans? POVERTY!

 

This bank refuses to treat Blacks as they do the rest of the population here in America.

 

Chase Bank seldom abides banking rules and regulations that pertains to African Americans. See:  http://www.uedcinc.com

 

JPMorganChase Bank does contribute large sums in the billions to Caucasians.

See: http://www.uedcinc.com

  (click on CHASE BANK COMMUNITY PARTNERSHIP)

 

SEE HOW JPMorgan Bank TREAT AFRICAN AMERICANS WHO COMPLAIN ABOUT THEIR DISCRIMINTORY PRACTICES. 

See:  http://www.uaadcra.blogspot.com

 

While extending the banks’ predatory practices, they are protected by OCC under the BUSH administration.   See:  http://www.uedcinc.com  (clk on THE FEDS REGULATE AND COLLABERATE WITH BANKS), and another reason Bush should be impeached. See: http://www.outbush2005.blogspot.com

 

Others opinions of JPMorgan Banks’ criminal acts that should be combined with the above fraudulent violations:

 April 21,2006      

USA TODAY Moneyline article   JPMorgan settles IPO lawsuit

JPMorgan Chase, one of the investments banks accused of manipulating the prices of initial public offerings during the dot-com boom, agreed to settle the claims by paying a $425 million settlement. JPMorgan is the first of dozens of investment banks named in class-action lawsuits for allegedly requiring investors awarded with the lucrative shares to buy more stock after the IPO. None of the other banks named in the cases have settled yet.  

JPMorganChase Bank also will have to deal with other class action complaints due to their numerous violations of the Community Re-Investment Act (CRA). 

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 timeIn 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.

UAAD ASK ALL AFRICAN AMERICANS TO BOYCOTT JPMorganChase Bank in LOUISIANA.

And Finally !JP Morgan/Chase/Bank One should be indicted and face criminal charges,possibly in violation of the RICO Act for red-lining, and discrimination againstAfrican Americans, in Louisiana in particular.

Enter content here

Enter supporting content here