UEDC/ CRA Proposal

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

11/25/2005

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.

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