UEDC/ CRA Proposal

This is a summary of complaints by UAAD pertaining to JPMorganChase Bank


How in unity we can obtain access to “4.2 Trillion Dollars” in order to establish an “African American” controlled bank, utilizing our nation’s banks CRA contributions. See enclosed and www.uaadcorp.com, and blogs.

Join us and make it happen

UAAD is seeking support at GSU and all HBUC’s - how about you?

Your involvement will make a difference in how effective “we” can be in assisting the hurricane victims and many, many others. It is time that the civil rights legislation will benefit African Americans as well as others, rather than as now practiced, all others and possibly to include African Americans. This is an effort to replace civil rights and to remove “affirmative action” in the manner intended and now practiced.

UAAD Propose:

That various foreign countries and their financial institutions, contribute to UAAD in order that UAAD can accomplish the following:
Establish CRA programs with foreign banks that will enhance UAAD’s goals.
Establish a minority owned bank recognized world wide, with branches throughout the world.
This can be accomplished with small commitments and investments in forming a “United Equity Development “(UEDB) bank that with sufficient funding, utilizing our nation’s banks which have in excess of $4 trillion dollars they claim is there to contribute toward their CRA activities. A lawsuit should lay claims to these funds, with no penalty to the banks, since the CRA regulations were implemented as civil rights, and their disregard of addressing the needs of African Americans which the act was originally intended.
These funds channeled through UEDB will begin to create the economic parity the CRA Act should have provided. UAAD ask your support and participation in assisting our 501c3 non-profit in accomplishing our goals.
Our bank UEDB when established will give each African American at least a share of stock when it is formed. UEDB will treat its members as a credit union treats their members with consultations and benefits we are asking Chase to provide our members. While pursuing establishment of UEDB, UAAD will continue to ask Chase and all banks to meet fair and equitable CRA agreements with community organizations such as ACORN, Woodstock Institute, NCRC, SCLC and UAAD. UAAD will promote this proposal, using various news (media outlets), television, radio, MoveOn.com, E-mail and www.uaadcorp.com web page and blogs. By 12/5/05 we will have a blog site addressing and spelling out our approach.
UAAD beg to ask our nation’s banks to contribute reparation in order that African Americans can began to achieve economic parity never before intended by our nation’s banks, our financial institutions to include our government. We will ask the Nation of Islam to provide what their international organization can in assisting UAAD’s efforts. With the Nation of Islam’s positive position in the Muslim community we expect their help to be beneficial to our efforts.
We invite your comments and concerns.


As stated by Hugh B. Price than President of the National Urban League, “most people who live outside of Washington DC 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. He went on to say “Congress passed the Community reinvestment Act in 1977 in response to clear evidence of the noxious effects of “redlining” – the systematic refusal of lenders to provide loans to businesses, homeowners and prospective home buyers in particular neighborhoods, especially those which were predominantly Black or Hispanic.”

A request by
United Affirmative Action Development Corp (UAAD)/United Equity Development Corp
(UEDC) to: Mike Scott, Vice-President CRA (state of Louisiana) JP Morgan/Chase Bank to assist in negotiating an agreement under the Community Re-Investment Act (CRA) to partnership with Chase Bank in distributing their $800 billion 10 year commitment dated April 2004. (The following commitment can be found on pg 26 of Chase Bank Community Partnership,
“In April 2004, we expanded our proud tradition of civic leadership and support when we committed to invest $800 billion in communities across the United States over 10 years. By the end of 2004, we achieved $69 billion of this commitment. The pledge, which is the biggest ever by a financial services company, focuses on three areas crucial to American households and communities.”
UAAD/UEDC in partnership with Chase intend to assist the Bank in expending these funds with the bulk among African Americans, where they were originally intended to be contributed under the Civil Rights Act of CRA of 1977. UAAD/UEDC invite the Federal Reserve Board, FDIC, OCC, Congress, ACORN, NAACP, Urban League, NAACP Legal Defense, SCLC, Move-On.com and its contributors, and all community organizations to participate and assist in these negotiations. The final results will provide funds to rebuild the Gulf Coast and in the long run assist African Americans where ever Chase Bank operate to serve African Americans as well as others which should have been the intent of CRA a Civil Rights Act regulation of 1977. For information regarding UAAD/UEDC’s mission and purpose see: www.unitedaffirmativeactiondevelopment.com
Your comments, consultation and support are welcomed. Comments can be addressed on our various blog sites. You can reach UAAD’s president and founder at uedcinc@aol.com, 866-276-2294, our mailing address 207 N. Service Rd., E PMB 150 Ruston, LA 71270.
We are in need of contributions, and are seeking grants to further this important cause to create economic parity for those most in need. We are presently negotiating with a minority bank in order to receive your contributions and are reaching out to all minority banks throughout the U.S. to assist UAAD/UEDC in advancing their and Chase Bank’s CRA activities.