UEDC/ CRA Proposal

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


March 8, 2006 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.


Post a Comment

<< Home