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UAAD CRA Proposal as a model for all HBCU's


It is the goal of the United Affirmative Action Development Corporation (UAAD) to negotiate an agreement with a major bank that will establish an internship program at Historic Black Colleges & Universities (HBCU), focusing upon the development of careers in the banking industry and creative ways by which the COMMUNITY RE-INVESTMENT ACT OF 1977 (CRA) can be utilized to foster economic development in their respective communities. UAAD with the assistance of its affiliates will negotiate agreements under the guidelines of “CRA” to include low interest loans for our members to establish and/or to improve businesses, purchase and/or improve homes, to purchases automobiles, etc.


This initial effort is designed to serve Louisiana residents who are African-Americans or members of other minority groups. Significantly, scholarship opportunities will be made available to African-American students enrolled or plan to enroll in HBCU institutions. Grambling State University will serve as our pilot project for this initiative.   Particular emphasis will be given to help residents negatively impacted by Hurricane Katrina.


March 11, 2006

UAAD’s interpretation of Chase Bank’s Reparation Initiative “SMART START”

JPMorganChase in 2005 made a commitment to the Louisiana Community.  This commitment according to Chase officials was made due to this Banks participation in the slave trade where they used slaves as collateral.  Upon asking how the funds provided to the bank’s Reparation are being distributed it was stated this information could be obtained on Chase’s web site.  These officials were not sure how to get to the proper page.  When asked how a high school graduate could obtain the necessary application to apply for this scholarship, it was indicated that they would have to apply at the various Universities in the state of Louisiana.  See:

After speaking to Chase officials this date United Affirmative Action Development Corp (UAAD) officials met with officials in Grambling State University’s (GSU) Finance Department and could find no one familiar with this program Chase Bank’s officials were contacted in Baton Rouge who administers this program.  This official indicated that the program had been in place prior to Katrina, and her supervisors were trying to devise a plan to use these funds for the Katrina victims and had not yet notified her of how the funds were going to be dispersed. 

UAAD filed several complaints regarding matters where Chase Bank fails to meet the needs of the African American community.  Under 12CFR25.43 such complaints should be entered in each and every branch in the state of Louisiana where Chase Bank operates.  After speaking to Mr. David Lewis the Community Affairs official for the Office of the Comptroller of the Currency, UAAD has asked that this and other complaints be entered in the Chase Bank’s branches public file.  See:  (clk on  THE FEDS REGULATE & COLLABERATE WITH BANKS)


 CRA stands for the COMMUNITY RE-INVESTMENT Act of 1977, often stated as the most important Civil Rights Legislation ever passed by Congress.  See:

and why we should keep the “C” in “CRA”.

 It was passed due to the extreme discrimination, predatory lending, and red-lining practiced by our nation’s banks. 

 The FDIC/OCC who regulate the banks and who are the enforcer of these regulations suggest that banks enter in into CRA agreements with COMMUNITY Organizations in order to better serve the low-moderate income community.

 It is suggested that banks commit up to 10% of their assets toward CRA contributions.  These contributions can be negotiated by way of low interest loans etc.  Only under CRA can a bank negotiate a loan below prime rates. 

Other compotants, such as low interest business development loans, Block Grants etc.

 In 1977 BofA negotiated a $350 Billion 4% interest commitment to ACORN for 10 years, for HUD housing development. 

 In 2004 JPMorganChase Bank committed $800 Billion dollars to their Community Partnership that they don’t like to call CRA for a variety of reasons.  Out of this commitment they indicate on their web-site that they have dedicated $69 Billion to various organizations and individuals.  An investigation will reveal that the majority of that $69 BILLION was committed to Groups, and Organizations that were not people of Color.


 SMART START of Louisiana” $5 Million commitment? (David Lewis)


($8 Million request for GSU 0404/06)?

 In UAAD’S opinion CRA commitments should be a form of REPARATION for Descendants of Slaves.  It was always meant as a penalty that Congress meant the banks to pay for their past transgressions

 This is how I believe we should look at the total commitments of all our nation’s banks which exceed 4.2 Trillion dollars to date.  These are normally 10 year commitments beginning April 2004.  These commitments were or should have been made to African Americans in particular. 

The CRA act was implemented and passed in 1977.  It would appear that since few banks have committed little or none of their funds to African Americans, that without interest they would owe the African American Community approx. 12 Trillion dollars.

JPMorganChase Bank with an $800 Billion total commitment closed both my business accounts, barred me from all their facilities throughout the US, simply because I asked them on behalf of UAAD to consider:

Allocating approx. $80 Billion for the next 5years, for Business Centers development, using HBUC’s for education and development.


Enter into a CRA agreement with UAAD and a Coalition of Community Organizations to negotiate low interest loans, block grants etc.


Negotiate an AFFINITY CREDIT Card agreement with this Group.



 OCC/FDIC Prime purpose and goals are to protect the interest of the banks; therefore they will not be involved in any benefitual manner in complaints, especially if you are a Person of Color.

 The Bush administration which is the overseers of the regulatory agencies, and whose Father is said to have had a long involvement with the Federal Reserves who allocate and loan monies to banks utilize such power to create “One World Order”, keeping Black Folks in poverty, never to receive Reparation form this Government.  And since the Federal Reserves practically own and control the banks they are going to do their best to see that the banks have to abide by the regulations set by Congress, but the “loop hole” is that they must use “prudent banking practices” when carrying out their CRA obligations.  That is to say if a low-income, poverty stricken Black Man come to your bank and ask you for a loan, and if he can’t prove that he meet the requirements with a line of credit, the bank is in compliance by not making such loans, as JPMorganChase practices this date the year 2006. 

 The OCC/FDIC also advise the banks, as Mr. David Lewis The Regional Director of the OCC advised UAAD and Mike Scott the VP of CRA the State of Louisiana recently that the bank was not required to enter into CRA agreements or arrangements unless they chose to do so. 

 Without Chase Bank entering into a CRA agreement the above mentioned Black Man, to make it short you can call him Walter, has no one to present his case whether discrimination, predatory lending existed or not.

 I was told by Mr. Peter Barrett the Republican Council for one of the Financial Committees when lobbying Congress in January this year that the reason this act?? CRA was still a regulation was due to no one attempting to make it effective.  He mentioned that the Democrats have tried, and they are not going to take a chance again as long as the Republicans are in Control of Congress.





UAAD believe that most other banks in Louisiana are willing to provide banking services and begin adhering to CRA.  Chase Bank’s Vice President of CRA Mike Scott stated African Americans were not included in The Civil Rights Act CRA, created due to banks’ predatory, and discriminatory practices in minority communities, the majority of that minority being African Americans.


An effective BOYCOTT of Chase may influence other banks in Louisiana and else where to negotiate reasonable agreements as suggested under the COMMUNITY RE-INVESTMENT Act of 1977, CRA.  It is apparent that Congress, the OCC/FDIC is not going to assist most African Americans. 



Walter L. Ellis, CEO, UAAD  866 276-2294






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