Friday, October 13, 2006
Bad Faith CRA Negotiations RE: AmSouth/Regions Banks
MEMORANDUM of Meeting held at Regions Bank, St. Charles St. New Orleans Wednesday October 11, 2006
This meeting was held with statements made on previous dates by Mr. Charles Stewart the CRA representative for Regions Bank that the main purpose was to negotiate a CRA proposal UAAD had presented to his office and other officials the past several months. (see: CRA complaint(s)).
In order to verify the intent, purpose, and dialog of this meeting I requested that the meeting be recorded by Mr. Charles Stewart and Ms. Yvette Cola. I also request a transcript of the recordings in a timely manner in order that we may compare our minutes taken at the meeting by UAAD’s representative Brother Walter Uramani.
These transcripts are needed in order that they can be entered into a formal complaint being filed by UAAD, in which we believe Mr. Stewart, Mr. Kevin Williams, present at this meeting have acted in bad faith. Throughout the process in hearing our proposals they and other bank officials have acted in bad faith in allowing African Americans access to CRA benefits.
See: http://www.uaadcorp.com/
Walter L. Ellis, CEO UAAD uedcinc@aol.com October 12, 2006
October 9, 2006
Regions Bank Re: Meeting Wednesday October 11, 2006
Mr. Charles Stewart,
United Affirmative Action Development Corp, (UAAD) has attempted to contact your office regarding a CRA meeting your office indicated you would have with UAAD by October 6, 2006. Mr. John Mosley who is not an official of UAAD, advised that he had arranged a meeting to be held on Wednesday October 11th, at 9:00AM. I had advised Mr. Mosley on Friday that the time would need to be changed for my scheduling. Mr. Mosley’s organization(s) I understand has an interest in negotiating a CRA agreement with your and other banks. After reviewing your and other banks’ CRA Activity Reports for the past 2 years in New Orleans in particular, it is my opinion that your and other banks could use the assistance of all Community Organizations in order to bring your bank(s) up to the standards required by the FDIC/OCC/FRB, especially during a merger as intended with your bank and AmSouth.
UAAD and its affiliates would like to be advised when the Public Meeting will be held where organizations or individuals can support or protest the merger between Regions and AmSouth Bank. UAAD’s concern at this time is that many officials of both banks have received numerous requests to negotiate agreements with both banks, and have been given what we believe to be a run-around.
UAAD would ask that Regions and AmSouth enter into good faith negotiations with our 501c3 non-profit, or have the CEO of each bank put in writing why you can or will not. You are aware that when some banks merge the issue of REPARATION becomes a discussion point. Those issues should be resolved, or at least investigated prior to mergers in fairness to the other bank, and the Community such banks serve.
Respectfully,
Walter L. Ellis, CEO UAAD uedcinc@aol.com
September 16, 2006
Ms. Yvette Cola
VP Regional Community Development Manager
Regions Bank
New Orleans, LA
Phone: 504-584-2105
Re: A request for CRA funding
Ms. Cola,
I would like to express my appreciation for meeting with UAAD.
UAAD’s request is to seek start-up funding to assist UAAD in organizing a Coalition of Community Organizations to seek CRA funding for projects to be presented to your bank.
United Affirmative action Development Corp, UAAD, a 501c3, Tax ID#62-1753255, is seeking contributions to continue its efforts in presenting and developing various programs that we believe will benefit the African American Community, low and moderate income individuals, utilizing CRA, with benefits that will create economic parity for many.
UAAD is seeking a $5,000.00 contribution to provide expenses in developing a final proposal to your bank.
We are looking forward to meeting with you Monday September 18th to present personally this request, and to begin a process to negotiate a long term agreement that will address and assist the Victims of Katrina.
Respectfully,
Walter L. Ellis, CEO UAAD
uedcinc@aol.com
May 8, 2006
Regions Bank
1317 N. Trenton St
Ruston, LA
This meeting was held with statements made on previous dates by Mr. Charles Stewart the CRA representative for Regions Bank that the main purpose was to negotiate a CRA proposal UAAD had presented to his office and other officials the past several months. (see: CRA complaint(s)).
In order to verify the intent, purpose, and dialog of this meeting I requested that the meeting be recorded by Mr. Charles Stewart and Ms. Yvette Cola. I also request a transcript of the recordings in a timely manner in order that we may compare our minutes taken at the meeting by UAAD’s representative Brother Walter Uramani.
These transcripts are needed in order that they can be entered into a formal complaint being filed by UAAD, in which we believe Mr. Stewart, Mr. Kevin Williams, present at this meeting have acted in bad faith. Throughout the process in hearing our proposals they and other bank officials have acted in bad faith in allowing African Americans access to CRA benefits.
See: http://www.uaadcorp.com/
Walter L. Ellis, CEO UAAD uedcinc@aol.com October 12, 2006
October 9, 2006
Regions Bank Re: Meeting Wednesday October 11, 2006
Mr. Charles Stewart,
United Affirmative Action Development Corp, (UAAD) has attempted to contact your office regarding a CRA meeting your office indicated you would have with UAAD by October 6, 2006. Mr. John Mosley who is not an official of UAAD, advised that he had arranged a meeting to be held on Wednesday October 11th, at 9:00AM. I had advised Mr. Mosley on Friday that the time would need to be changed for my scheduling. Mr. Mosley’s organization(s) I understand has an interest in negotiating a CRA agreement with your and other banks. After reviewing your and other banks’ CRA Activity Reports for the past 2 years in New Orleans in particular, it is my opinion that your and other banks could use the assistance of all Community Organizations in order to bring your bank(s) up to the standards required by the FDIC/OCC/FRB, especially during a merger as intended with your bank and AmSouth.
UAAD and its affiliates would like to be advised when the Public Meeting will be held where organizations or individuals can support or protest the merger between Regions and AmSouth Bank. UAAD’s concern at this time is that many officials of both banks have received numerous requests to negotiate agreements with both banks, and have been given what we believe to be a run-around.
UAAD would ask that Regions and AmSouth enter into good faith negotiations with our 501c3 non-profit, or have the CEO of each bank put in writing why you can or will not. You are aware that when some banks merge the issue of REPARATION becomes a discussion point. Those issues should be resolved, or at least investigated prior to mergers in fairness to the other bank, and the Community such banks serve.
Respectfully,
Walter L. Ellis, CEO UAAD uedcinc@aol.com
September 16, 2006
Ms. Yvette Cola
VP Regional Community Development Manager
Regions Bank
New Orleans, LA
Phone: 504-584-2105
Re: A request for CRA funding
Ms. Cola,
I would like to express my appreciation for meeting with UAAD.
UAAD’s request is to seek start-up funding to assist UAAD in organizing a Coalition of Community Organizations to seek CRA funding for projects to be presented to your bank.
United Affirmative action Development Corp, UAAD, a 501c3, Tax ID#62-1753255, is seeking contributions to continue its efforts in presenting and developing various programs that we believe will benefit the African American Community, low and moderate income individuals, utilizing CRA, with benefits that will create economic parity for many.
UAAD is seeking a $5,000.00 contribution to provide expenses in developing a final proposal to your bank.
We are looking forward to meeting with you Monday September 18th to present personally this request, and to begin a process to negotiate a long term agreement that will address and assist the Victims of Katrina.
Respectfully,
Walter L. Ellis, CEO UAAD
uedcinc@aol.com
May 8, 2006
Regions Bank
1317 N. Trenton St
Ruston, LA
Dear Sir or Madam:
United Affirmative Action Development Corporation, a 501c3 non-profit, would like to meet with you CRA representative. We would like to have a copy of your CRA files and to discuss the following:
A CRA Proposal from UNITED EQUITY DEVELOPMENT CORP (UEDC) To All Banks in the State of Louisiana for Hurricane
KATRINA Recovery.
UEDC an affiliate of UNITED AFFIRMATIVE ACTION DEVELOPMENT CORP (UAAD) a 501c3 non-profit propose to create a coalition of small and large banks in the state of Louisiana in order to provide low, moderate-income individual and small businesses to include African Americans (AA) the necessary funding in order to recover from KATRINA, and its aftermath.
The suggestions of the COMMUNITY RE-INVESTMENT ACT of 1977 (CRA) is that banks commit at least 10 percent of their assets toward CRA activities. These set asides can be in the form of low interest loans, or contributions.
CRA a part of the civil rights legislation of 1977 was created due to predatory lending, red-lining and discrimination on the part of our nation’s banks.
see: http://www.uaadcorp.com/ / http://www.chaseuedcaffinity.blogspot.com/
http://www.chasebankreparation.blogspot.com/
UAAD/UEDC will organize a coalition of banks, community organizations, in order to benefit the Hurricane victims. Such a coalition will benefit the banks, low, moderate-income to include AA. / http://www.bankwhileblack.com/
Utilization of funds:
Finance down payments to low-moderate-income for home purchase, (based on programs JPMorganChase Bank has established).
Provide low (no interest loans to hurricane victims)
Provide low interest business loans to small businesses. (Lower to Katrina Victims).
Contributions to HBUC’s, to increase CRA activities and scholarship programs.
Establish Micro-business Centers at all HBUC’s and other locations where needed. Centers will be assisted by Community Organizations and small banks. Small banks will also serve and assist on Community Loan Committees.
In addition to low interest loans, assistance from business centers, our members will also benefit from UAAD/UEDC’s low interest AFFINITY CREDIT CARD being negotiated with JPMorganChase Bank.
Although UAAD/UEDC has in excess of 20 years involvement in CRA, we are aware that the success of accomplishing our goals we will need a commitment from our nation’s banks, FDIC, Office of the Comptroller of the Currency (OCC) and as many community organizations that will join with us in order to assist the KATRINA victims and others. Our nation’s banks have in excess of $4.2 trillion dollars in CRA commitments. If the CRA ACT has any significance or purpose, now is the time for it to be implemented. See: http://www.uedcinc.com/
We propose a 5 year commitment of 10 percent of assets to be administered by UAAD and other established community organizations. We will be negotiating for UAAD and the coalition will require a reasonable percentage in advance to administer these programs.
See: http://www.uaadcrahbuc.blogspot.com/
We anticipate your in-put and participation.
UEDC will ask small banks to contribute administration assistance in lieu of cash contributions. Such contributions will be in the form of business consultation, serving on community loan committees, teaching CRA and banking in HBUC’s etc. Larger banks will be asked to contribute at least 10 percent of their assets toward these proposed projects for the next 5 years. We believe the FDIC/OCC will consider this proposal to be practical and meet the requirements of the bank(s) obligation to meet prudent banking practices as required under the Community Re-Investment Act of 1977 (CRA).
Sincerely,
Walter L. Ellis, CEO of UAAD/UEDC
PRESENTATION TO
AmSouth Bank
Kevin E. Williams
Vice President
Regional Community Development Manager
333 Texas Street, 3rd Floor
Shreveport, Louisiana 71101
A request for funding
RE: A PROPOSAL TO FORM A COALITION TO PROVIDE BENEFITS TO THE
AFRICAN AMERICAN COMMUNITY UTILIZING CIVIL RIGHTS
LEGISTATION OF 1977
THE COMMUNITY REINVESTMENT ACT (CRA)
http://www.uaadcorp.com
AmSouth Bank
Kevin E. Williams
Vice President
Regional Community Development Manager
333 Texas Street, 3rd Floor
Shreveport, Louisiana 71101
A request for funding
RE: A PROPOSAL TO FORM A COALITION TO PROVIDE BENEFITS TO THE
AFRICAN AMERICAN COMMUNITY UTILIZING CIVIL RIGHTS
LEGISTATION OF 1977
THE COMMUNITY REINVESTMENT ACT (CRA)
http://www.uaadcorp.com
http://www.cra-sclc-neworleans.blogspot.com/
PRESENTED BY:
Walter L. Ellis, CEO United Affirmative Action Development Corp / UAAD
a 501C3 non-profit corporation
uedcinc@aol.com
http://www.unitedaffirmativeactiondevelopment.com
PRESENTED BY:
Walter L. Ellis, CEO United Affirmative Action Development Corp / UAAD
a 501C3 non-profit corporation
uedcinc@aol.com
http://www.unitedaffirmativeactiondevelopment.com
September 16, 2006
Mr. Kevin E. Williams
VP Regional Community Development Manager
AmSouth Bank
333Texas Street, 3rd floor
Shreveport, Louisiana 71101
Phone: 318 429-1918
Re: A request for CRA funding
Mr. Williams,
I would like to express my appreciation for meeting with UAAD in your office 400 Podyras St. on 9/15/06.
UAAD’s request at that meeting is to seek start-up funding to assist UAAD in finalizing organizing a Coalition of Community Organizations to seek CRA funding for projects to be presented to your bank.
United Affirmative action Development Corp, UAAD a 501c3 Tax ID#62-1753255, is seeking contributions to continue its efforts in presenting and developing various programs that we believe will benefit the African American Community, low and moderate income individuals, utilizing CRA, with benefits that will create economic parity for many.
UAAD is seeking a $5,000.00 contribution to provide expenses in developing a final proposal to your bank.
We are looking forward to meeting with you Monday September 18th to present personally this request, and to begin a process to negotiate a long term agreement that will address and assist the Victims of Katrina.
Respectfully,
Walter L. Ellis, CEO UAAD
uedcinc@aol.com
African Americans should pay attention to UAAD’s CRA PROPOSALS!!!!
As the founder and CEO of United Affirmative Action Development Corp (UAAD), I believe that if Community, Civic, and Civil Rights organizations and many individuals in the Minority Community would realize that the 10 plus years UAAD has spent developing CRA proposals, to show that it is meant or should have been meant for REPARATION for AFRICAN AMERICANS in particular.
A coalition that is being developed by UAAD will allow a process to gain access to open the bank(s) vaults, using the COMMUNITY RE-INVESTMENT Act of 1977 (CRA), rather than using a weapon.
Only together can we be successful to insist that our nation’s banks provide economic parity to African Americans, and Native Americans as regulated under CRA. These funds can be provided under any given name the bank(s) want to name such as:
For instance JPMorganChase Bank agreed to pay REPARATION, and choose to call their program “SMART START of Louisiana”. How they named the program is insignificant, but the fact that they under funded the program, and apparently purposely hid the funding since 2004, becomes a problem that the NAACP and the Federal Government should investigate. http://www.chasebankreparation.blogspot.com/ http://www.bankwhileblack.blogspot.com/ http://www.uedcrabank.blogspot.com/
Kevin Williams, VP CRA AmSouth Bank, in a proposal to UAAD recently in New Orleans presented a proposal to negotiate a CDC agreement with Community Organizations, he and the bank are aware that CDC does not meet the requirements of CRA. http://cra-uaad-neworleans.blogspot.com/
UAAD request that Community Organizations join in our efforts to insist that our nation’s banks make available reasonable contributions, and programs as intended by the Civil Rights legislation CRA.
UAAD ask any and all to join with us in bringing about economic parity for minorities in particular, who was harmed by discriminatory practices which included predatory lending by our nation’s banks.
Walter L. Ellis, CEO UAAD uedcinc@aol.com 10-08-06
PRESENTATION GSU 9/20/06 “ECONOMIC PARITY”
Walter Ellis CEO / Founder United Affirmative Action Development Corp / UAAD, a 5013c non-profit.
Also CEO and founder United Equity Development Corporation / UEDC, a for-profit Louisiana Corporation.
Both Corporations founded in 1995/1996 while participating in a CRA agreement with Premier Bank, a Louisiana Bank.
CRA stands for the COMMUNITY RE-INVESTMENT Act of 1977, often stated as the most important Civil Rights Legislation ever passed by Congress.
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 that look like Us.
“SMART START of Louisiana” $5 Million commitment? (David Lewis)
($8 Million request for GSU 0404/06)?
How I believe we should look at the total commitments of all our nation’s banks which exceeds 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 there funds to African Americans, that without interest they would owe this Community approx. 12 Trillion dollars.
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.
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 HBCU’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.
Understanding the reasons this Act ineffective due to:
As the founder and CEO of United Affirmative Action Development Corp (UAAD), I believe that if Community, Civic, and Civil Rights organizations and many individuals in the Minority Community would realize that the 10 plus years UAAD has spent developing CRA proposals, to show that it is meant or should have been meant for REPARATION for AFRICAN AMERICANS in particular.
A coalition that is being developed by UAAD will allow a process to gain access to open the bank(s) vaults, using the COMMUNITY RE-INVESTMENT Act of 1977 (CRA), rather than using a weapon.
Only together can we be successful to insist that our nation’s banks provide economic parity to African Americans, and Native Americans as regulated under CRA. These funds can be provided under any given name the bank(s) want to name such as:
For instance JPMorganChase Bank agreed to pay REPARATION, and choose to call their program “SMART START of Louisiana”. How they named the program is insignificant, but the fact that they under funded the program, and apparently purposely hid the funding since 2004, becomes a problem that the NAACP and the Federal Government should investigate. http://www.chasebankreparation.blogspot.com/ http://www.bankwhileblack.blogspot.com/ http://www.uedcrabank.blogspot.com/
Kevin Williams, VP CRA AmSouth Bank, in a proposal to UAAD recently in New Orleans presented a proposal to negotiate a CDC agreement with Community Organizations, he and the bank are aware that CDC does not meet the requirements of CRA. http://cra-uaad-neworleans.blogspot.com/
UAAD request that Community Organizations join in our efforts to insist that our nation’s banks make available reasonable contributions, and programs as intended by the Civil Rights legislation CRA.
UAAD ask any and all to join with us in bringing about economic parity for minorities in particular, who was harmed by discriminatory practices which included predatory lending by our nation’s banks.
Walter L. Ellis, CEO UAAD uedcinc@aol.com 10-08-06
PRESENTATION GSU 9/20/06 “ECONOMIC PARITY”
Walter Ellis CEO / Founder United Affirmative Action Development Corp / UAAD, a 5013c non-profit.
Also CEO and founder United Equity Development Corporation / UEDC, a for-profit Louisiana Corporation.
Both Corporations founded in 1995/1996 while participating in a CRA agreement with Premier Bank, a Louisiana Bank.
CRA stands for the COMMUNITY RE-INVESTMENT Act of 1977, often stated as the most important Civil Rights Legislation ever passed by Congress.
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 that look like Us.
“SMART START of Louisiana” $5 Million commitment? (David Lewis)
($8 Million request for GSU 0404/06)?
How I believe we should look at the total commitments of all our nation’s banks which exceeds 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 there funds to African Americans, that without interest they would owe this Community approx. 12 Trillion dollars.
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.
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 HBCU’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.
Understanding the reasons this Act ineffective due to:
If we don’t ask, the banks will not tell.
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.
Solution:
UAAD ASK ALL AFRICAN AMERICANS TO BOYCOTT JPMorganChase Bank in LOUISIANA.
UAAD believe that most other banks in Louisiana such as AmSouth and Regions 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. See:
http://www.unitedaffirmativeactiondevelopmet.com/
http://www.chasebankreparation.blogspot.com/
http://www.cra-uaad-neworleans.blogspot.com/
http://www.bankwhileblack.blogspot.com/
http://www.uedcrabank.blogspot.com/
Walter L. Ellis, CEO, UAAD
uedcinc@aol.com
9/21/06
UAAD CRA PROPOSAL to NAACP
UAAD suggest that:
Mr. Kevin Williams arrange a start-up grant (contribution) of $20,000.00 to be funded by October 15, 2006. These funds will allow expenses to be paid to CRA Consultants in order to propose a $500,000.00 Contribution to Northern Louisiana NAACP CRA / UAAD non-profit affiliate.
The urgency of this request is to assist African Americans suffering AmSouth’s past and present red-lining and predatory lending in the low, moderate-income Communities. These violations are in direct violation of the Community Re-Investment Act of 1977, the most important Civil Rights Legislation ever passed by Congress.
The urgency for AmSouth is their desire to appease Organizations such as the NAACP while they are attempting to merge with Region Bank. A public hearing will be held in the very near future and both banks will be offering Organizations as little as possible to indicate to the OCC that they are meeting their CRA obligations. That obligation is that it is suggested that they contribute approximately 10% of their total assets toward CRA activities. I would believe that Mr. Williams have or will demonstrate how his bank has met those obligations for the past 2 years, which is one of the duties of the banks CRA Official. Other duties are to arrange agreements with Community Organizations to make long term agreements, up 10 years to offer low interest loans, SBA loans, Block Grants etc. to the minority community. Under CRA loans can be negotiated by the bank with 501c3 non-profits sometimes below prime interest rates. Many times these negotiations are allowed when the Community non-profit offers a micro-management of such loans, in order that the bank, protected by the FDIC and Federal Reserve insist that prudent banking practices are observed.
In addition to AmSouth’s contribution we ask that they assign a bank official that has the loan capacity to service the commitment. This official will serve on a Community loan committee that will be selected to choose paid Business Consultants who will pre approve loans, that the bank will give final approval or disapproval
This agreement is and will model on older CRA arrangements of this nature, and a recent CRA agreement with Wells Fargo Bank. An affiliate of UAAD Recycling Black Dollars was involved in these recent negotiations. This agreement is the first I am aware of that indicates that CRA was meant for People of Color. This arrangement makes a commitment of 60% to African Americans, 30% to Hispanics, and 10% to others. Although I personally don’t agree to 10% to others, it is far better than past hand-outs by banks. See: http://www.uaadcorp.com/
UAAD will be seeking similar arrangements with SCLC in New Orleans,
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.
Solution:
UAAD ASK ALL AFRICAN AMERICANS TO BOYCOTT JPMorganChase Bank in LOUISIANA.
UAAD believe that most other banks in Louisiana such as AmSouth and Regions 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. See:
http://www.unitedaffirmativeactiondevelopmet.com/
http://www.chasebankreparation.blogspot.com/
http://www.cra-uaad-neworleans.blogspot.com/
http://www.bankwhileblack.blogspot.com/
http://www.uedcrabank.blogspot.com/
Walter L. Ellis, CEO, UAAD
uedcinc@aol.com
9/21/06
UAAD CRA PROPOSAL to NAACP
UAAD suggest that:
Mr. Kevin Williams arrange a start-up grant (contribution) of $20,000.00 to be funded by October 15, 2006. These funds will allow expenses to be paid to CRA Consultants in order to propose a $500,000.00 Contribution to Northern Louisiana NAACP CRA / UAAD non-profit affiliate.
The urgency of this request is to assist African Americans suffering AmSouth’s past and present red-lining and predatory lending in the low, moderate-income Communities. These violations are in direct violation of the Community Re-Investment Act of 1977, the most important Civil Rights Legislation ever passed by Congress.
The urgency for AmSouth is their desire to appease Organizations such as the NAACP while they are attempting to merge with Region Bank. A public hearing will be held in the very near future and both banks will be offering Organizations as little as possible to indicate to the OCC that they are meeting their CRA obligations. That obligation is that it is suggested that they contribute approximately 10% of their total assets toward CRA activities. I would believe that Mr. Williams have or will demonstrate how his bank has met those obligations for the past 2 years, which is one of the duties of the banks CRA Official. Other duties are to arrange agreements with Community Organizations to make long term agreements, up 10 years to offer low interest loans, SBA loans, Block Grants etc. to the minority community. Under CRA loans can be negotiated by the bank with 501c3 non-profits sometimes below prime interest rates. Many times these negotiations are allowed when the Community non-profit offers a micro-management of such loans, in order that the bank, protected by the FDIC and Federal Reserve insist that prudent banking practices are observed.
In addition to AmSouth’s contribution we ask that they assign a bank official that has the loan capacity to service the commitment. This official will serve on a Community loan committee that will be selected to choose paid Business Consultants who will pre approve loans, that the bank will give final approval or disapproval
This agreement is and will model on older CRA arrangements of this nature, and a recent CRA agreement with Wells Fargo Bank. An affiliate of UAAD Recycling Black Dollars was involved in these recent negotiations. This agreement is the first I am aware of that indicates that CRA was meant for People of Color. This arrangement makes a commitment of 60% to African Americans, 30% to Hispanics, and 10% to others. Although I personally don’t agree to 10% to others, it is far better than past hand-outs by banks. See: http://www.uaadcorp.com/
UAAD will be seeking similar arrangements with SCLC in New Orleans,
see:
http://www.cra-uaad-neworleans.blogspot.com/.
Walter L. Ellis, CEO UAAD uedcinc@aol.com September 29, 2006
Memorandum Seminar NCRC NO 9/25/06
A report to Dr. Martin A. Denesse,
This meeting attended this date was very informative and can be of considerable assistance in our efforts. The NATIONAL COMMUNITY REINVESTMENT COALITION (NCRC) is a well established organization with considerable skills regarding CRA issues. See: http://www.ncrc.org/ , and you may want to contact Mr. Irvin Henderson the Chairperson or Anne Pasmanick VP of Coalition Relations and ask if someone from the New Orleans area could attend our Coalition meeting(s).
A Power Point presentation was presented illustrating the after math of Katrina with Dr. Denesse explaining in clarity many of the problems.
Top officials from 11 major banks throughout the country were present, to include CRA representatives, some we have met and discussed our proposals. Rev. Thompson suggested that we invite CRA representatives from banks in the New Orleans area to our Saturday meetings. I believe this to be a good idea. I do believe that it would be more effective if the New Orleans Coalition under the leadership of Rev. Norwood Thompson CRA@UAAD New Orleans would make the invite. Mr. Kevin Williams VP of CRA AmSouth Bank was present and stated after I made remarks before the group that his bank would certainly get in touch with UAAD regarding our request for a contribution and began a process of negotiating a CRA agreement with his AmSouth Bank.
In my remarks I stated my views on how CRA should work for the Community and the Bank(s). I relayed my displeasure with JPMorganChase Bank and its approach and lack of approach to CRA. I mentioned names of Bank One’s CRA official who had done what a Community minded CRA official should do to perform their job, and was terminated by Bank One. I also mentioned that his replacement Mike Scott was a “Uncle Tom” doing Chase Bank’s dirty work for the past 10 years, helping to create the poverty and despair that exist in Louisiana prior too Katrina, after Katrina and presently. I feel that these conditions still exist, and that many would not if officials as Mr. Nathan Thornton who was attempting to perform his job as designed, had not been replaced by the likes of Mike Scott. Mark Willis VP of JPMorganChase Community Partnership out of their New York Headquarters office was also present. Mr. Willis had related to me in a telephone conversation earlier this year that Mike Scott was a fine gentleman, and he was very displeased that I was not cooperating with Mike. At this meeting after some harsh statements were made by others indicating Mr. Willis did not have the African American Community in his organizational plans, and before I was able to ask him questions, he decided it was time for him to get back to New York. Mr. Willis’s superior Mr. Jamie Dimon I understand will be speaking or meeting in New Orleans today September 26, 2006. I suggest that UAAD and others attend this and all meetings where JPMorganChase Bank officials are spreading their false propaganda, and ask why Chase Bank do not offer equal opportunities to African Americans, in order that they to can achieve “Economic Parity”.
Mr. Dimon who is described in a USA Today News article as a “Socialist”, appears to only exercise that philosophy when Caucasians are concerned.
Walter L. Ellis, CEO UAAD uedcinc@aol.com September 26, 2006
Few banks commit little or no funds to African Americans
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 HBCU’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. http://www.cra-uaad-neworleans.blogspot.com/
Negotiate an AFFINITY CREDIT Card agreement with this Group.
http://www.chaseuedcaffinity.blogspot.com/
http://academic.udayton.edu/race/02rights/repara30.htm
http://www.chasebankreparation.blogspot.com/
UAAD ASK THAT AFRICAN AMERICANS BOYCOTT JPMorganChase Bank
Walter Ellis, CEO UAAD uedcinc@aol.com http://www.moveon.com/ September 21, 2006
How CRA can benefit KATRINA Victims
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. http://www.uaadcorp.com/. United Affirmative Action Development Corporation (UAAD) a 5013c non-profit whose principle goals are to provide an instrument beneficial to both the bank and the community it serves. It allows our members an entry into this financial institution, and at the same time allowing the bank its obligation of safe and sound banking practices.
http://www.chasebankreparation.blogspot.com/ http://www.uaadcra.blogspot.com/
A CRA Proposal from UNITED EQUITY DEVELOPMENT CORP (UEDC) To All Banks in the State of Louisiana for Hurricane
KATRINA Recovery.
UEDC an affiliate of UNITED AFFIRMATIVE ACTION DEVELOPMENT CORP (UAAD) a 501c3 non-profit propose to create a coalition of small and large banks in the state of Louisiana in order to provide low, moderate-income individual and small businesses to include African Americans (AA) the necessary funding in order to recover from KATRINA, and its aftermath.
The suggestions of the COMMUNITY RE-INVESTMENT ACT of 1977 (CRA) is that banks commit at least 10 percent of their assets toward CRA activities. These set asides can be in the form of low interest loans, or contributions.
CRA a part of the civil rights legislation of 1977 was created due to predatory lending, red-lining and discrimination on the part of our nation’s banks.
see: http://www.uaadcorp.com/ / http://www.chaseuedcaffinity.blogspot.com/
http://www.chasebankreparation.blogspot.com/
UAAD/UEDC will organize a coalition of banks, community organizations, in order to benefit the Hurricane victims. Such a coalition will benefit the banks, low, moderate-income to include AA. / http://www.bankwhileblack.com/
Although UAAD/UEDC has in excess of 20 years involvement in CRA, we are aware that the success of accomplishing our goals we will need a commitment from our nation’s banks, FDIC, Office of the Comptroller of the Currency (OCC) and as many community organizations that will join with us in order to assist the KATRINA victims and others. Our nation’s banks have in excess of $4.2 trillion dollars in CRA commitments. If the CRA ACT has any significance or purpose, now is the time for it to be implemented. See: http://www.uedcinc.com/
EDC would like for those receiving the above document to review and comment. We are meeting with a local bank’s CRA official here in Ruston, LA to present this proposal. We propose a 5 year commitment of 10 percent of assets to be administered by UAAD and other established community organizations. We will be negotiating for UAAD and the coalition will require a reasonable percentage in advance to administer these programs.
See: http://www.uaadcrahbuc.blogspot.com/
We anticipate your in-put and participation.
A CRA Coalition Suggestion for COMMUNITY Organizations - New Orleans
United Affirmative Action Development Corp (UAAD), a 501c3 non-profit, and United Equity Development Corp (UEDC), a for profit, propose a coalition of Community and Civil Rights organizations to develop methods to raise funds utilizing the COMMUNITY RE-INVESTMENT Act of 1977,( CRA).
CRA, a part of the civil rights legislation of 1977 was created due to predatory lending, red-lining and discrimination on the part of our nation’s banks.
http://www.chaseuedcaffinity.blogspot.com/
UAAD / UEDC propose to assist in organizing Community Organizations to specifically address CRA issues in the Gulf Coast pertaining, in particular, to those banks serving New Orleans and the Katrina Victims. Our efforts will be to seek funds that have been allocated to low-moderate income individuals because of the banks’ discrimination, past and present, red-lining in the African American and minority communities. These funds exceed in excess of $100 Billion Dollars that banks have in their CRA commitments as of September 11, 2006.
As the CEO of UAAD / UEDC and founder of these organizations, I ask each of your organizations with missions such as ours to join in a collaborative effort to assist African Americans in particular to reach “economic parity”. see: http://www.uaadcorp.com/
It is the intent of UAAD to post all relevant information pertaining to its and the affiliate coalition partners information on UAAD /UEDC’s, blogs, web-sites, http://www.moveon.com/, news media in order to publicize our efforts and goals.
UAAD ask that each of you join and assist to make this a combined effort to negotiate, and implement a $100 Billion CRA arrangement that will allow African Americans and many others to reach “ECONOMIC PARITY”, long past due.
UAAD/UEDC Hurricane Victims Recovery (HVR) Louisiana Bank Proposal
Attn: CRA Representative
UEDC an affiliate of UNITED AFFIRMATIVE ACTION DEVELOPMENT CORP (UAAD) a 501c3 non-profit propose to create a coalition of small and large banks in the state of Louisiana in order to provide low, moderate-income individual and small businesses to include African Americans the necessary funding in order to recover from KATRINA, and its aftermath.
UAAD will seek a contribution of 3% of each banks CRA commitment to develop the following programs:
Mobil office and trailer units. These vehicles will be used to service the Hurricane Victims and others. Units will be staged at organization sites, churches, colleges and other locations to assist low-moderate income individuals in loan applications, credit repair, business assistance, legal and other mobile assistance. See: http://www.uaadcorp.com/
Promote Coordinate efforts with participating banks to bring financial aid to Hurricane Victims and others. See: http://www.uaadcra.blogspot.com/
Cost per Unit(s): $250,000.00 Mobil RV and Trailer
Operational Cost 6 months: 75,000.00
Total $325,000.00
Units will promote contributing banks logo and contribution.
UAAD is in the process of negotiating a low interest Affinity Credit Card that will benefit other participating banks members. See: http://www.chaseuedcaffinity.blogspot.com/, credit card program.
UAAD anticipate that the majority of the banks in Louisiana will join and participate in this Hurricane Recovery program.
United Affirmative Action Development Corporation, a 501c3 non-profit, would like to meet with your CRA representative. We would like to have a copy of your CRA files and to discuss the following:
http://www.cra-uaad-neworleans.blogspot.com/.
Walter L. Ellis, CEO UAAD uedcinc@aol.com September 29, 2006
Memorandum Seminar NCRC NO 9/25/06
A report to Dr. Martin A. Denesse,
This meeting attended this date was very informative and can be of considerable assistance in our efforts. The NATIONAL COMMUNITY REINVESTMENT COALITION (NCRC) is a well established organization with considerable skills regarding CRA issues. See: http://www.ncrc.org/ , and you may want to contact Mr. Irvin Henderson the Chairperson or Anne Pasmanick VP of Coalition Relations and ask if someone from the New Orleans area could attend our Coalition meeting(s).
A Power Point presentation was presented illustrating the after math of Katrina with Dr. Denesse explaining in clarity many of the problems.
Top officials from 11 major banks throughout the country were present, to include CRA representatives, some we have met and discussed our proposals. Rev. Thompson suggested that we invite CRA representatives from banks in the New Orleans area to our Saturday meetings. I believe this to be a good idea. I do believe that it would be more effective if the New Orleans Coalition under the leadership of Rev. Norwood Thompson CRA@UAAD New Orleans would make the invite. Mr. Kevin Williams VP of CRA AmSouth Bank was present and stated after I made remarks before the group that his bank would certainly get in touch with UAAD regarding our request for a contribution and began a process of negotiating a CRA agreement with his AmSouth Bank.
In my remarks I stated my views on how CRA should work for the Community and the Bank(s). I relayed my displeasure with JPMorganChase Bank and its approach and lack of approach to CRA. I mentioned names of Bank One’s CRA official who had done what a Community minded CRA official should do to perform their job, and was terminated by Bank One. I also mentioned that his replacement Mike Scott was a “Uncle Tom” doing Chase Bank’s dirty work for the past 10 years, helping to create the poverty and despair that exist in Louisiana prior too Katrina, after Katrina and presently. I feel that these conditions still exist, and that many would not if officials as Mr. Nathan Thornton who was attempting to perform his job as designed, had not been replaced by the likes of Mike Scott. Mark Willis VP of JPMorganChase Community Partnership out of their New York Headquarters office was also present. Mr. Willis had related to me in a telephone conversation earlier this year that Mike Scott was a fine gentleman, and he was very displeased that I was not cooperating with Mike. At this meeting after some harsh statements were made by others indicating Mr. Willis did not have the African American Community in his organizational plans, and before I was able to ask him questions, he decided it was time for him to get back to New York. Mr. Willis’s superior Mr. Jamie Dimon I understand will be speaking or meeting in New Orleans today September 26, 2006. I suggest that UAAD and others attend this and all meetings where JPMorganChase Bank officials are spreading their false propaganda, and ask why Chase Bank do not offer equal opportunities to African Americans, in order that they to can achieve “Economic Parity”.
Mr. Dimon who is described in a USA Today News article as a “Socialist”, appears to only exercise that philosophy when Caucasians are concerned.
Walter L. Ellis, CEO UAAD uedcinc@aol.com September 26, 2006
Few banks commit little or no funds to African Americans
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 HBCU’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. http://www.cra-uaad-neworleans.blogspot.com/
Negotiate an AFFINITY CREDIT Card agreement with this Group.
http://www.chaseuedcaffinity.blogspot.com/
http://academic.udayton.edu/race/02rights/repara30.htm
http://www.chasebankreparation.blogspot.com/
UAAD ASK THAT AFRICAN AMERICANS BOYCOTT JPMorganChase Bank
Walter Ellis, CEO UAAD uedcinc@aol.com http://www.moveon.com/ September 21, 2006
How CRA can benefit KATRINA Victims
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. http://www.uaadcorp.com/. United Affirmative Action Development Corporation (UAAD) a 5013c non-profit whose principle goals are to provide an instrument beneficial to both the bank and the community it serves. It allows our members an entry into this financial institution, and at the same time allowing the bank its obligation of safe and sound banking practices.
http://www.chasebankreparation.blogspot.com/ http://www.uaadcra.blogspot.com/
A CRA Proposal from UNITED EQUITY DEVELOPMENT CORP (UEDC) To All Banks in the State of Louisiana for Hurricane
KATRINA Recovery.
UEDC an affiliate of UNITED AFFIRMATIVE ACTION DEVELOPMENT CORP (UAAD) a 501c3 non-profit propose to create a coalition of small and large banks in the state of Louisiana in order to provide low, moderate-income individual and small businesses to include African Americans (AA) the necessary funding in order to recover from KATRINA, and its aftermath.
The suggestions of the COMMUNITY RE-INVESTMENT ACT of 1977 (CRA) is that banks commit at least 10 percent of their assets toward CRA activities. These set asides can be in the form of low interest loans, or contributions.
CRA a part of the civil rights legislation of 1977 was created due to predatory lending, red-lining and discrimination on the part of our nation’s banks.
see: http://www.uaadcorp.com/ / http://www.chaseuedcaffinity.blogspot.com/
http://www.chasebankreparation.blogspot.com/
UAAD/UEDC will organize a coalition of banks, community organizations, in order to benefit the Hurricane victims. Such a coalition will benefit the banks, low, moderate-income to include AA. / http://www.bankwhileblack.com/
Although UAAD/UEDC has in excess of 20 years involvement in CRA, we are aware that the success of accomplishing our goals we will need a commitment from our nation’s banks, FDIC, Office of the Comptroller of the Currency (OCC) and as many community organizations that will join with us in order to assist the KATRINA victims and others. Our nation’s banks have in excess of $4.2 trillion dollars in CRA commitments. If the CRA ACT has any significance or purpose, now is the time for it to be implemented. See: http://www.uedcinc.com/
EDC would like for those receiving the above document to review and comment. We are meeting with a local bank’s CRA official here in Ruston, LA to present this proposal. We propose a 5 year commitment of 10 percent of assets to be administered by UAAD and other established community organizations. We will be negotiating for UAAD and the coalition will require a reasonable percentage in advance to administer these programs.
See: http://www.uaadcrahbuc.blogspot.com/
We anticipate your in-put and participation.
A CRA Coalition Suggestion for COMMUNITY Organizations - New Orleans
United Affirmative Action Development Corp (UAAD), a 501c3 non-profit, and United Equity Development Corp (UEDC), a for profit, propose a coalition of Community and Civil Rights organizations to develop methods to raise funds utilizing the COMMUNITY RE-INVESTMENT Act of 1977,( CRA).
CRA, a part of the civil rights legislation of 1977 was created due to predatory lending, red-lining and discrimination on the part of our nation’s banks.
http://www.chaseuedcaffinity.blogspot.com/
UAAD / UEDC propose to assist in organizing Community Organizations to specifically address CRA issues in the Gulf Coast pertaining, in particular, to those banks serving New Orleans and the Katrina Victims. Our efforts will be to seek funds that have been allocated to low-moderate income individuals because of the banks’ discrimination, past and present, red-lining in the African American and minority communities. These funds exceed in excess of $100 Billion Dollars that banks have in their CRA commitments as of September 11, 2006.
As the CEO of UAAD / UEDC and founder of these organizations, I ask each of your organizations with missions such as ours to join in a collaborative effort to assist African Americans in particular to reach “economic parity”. see: http://www.uaadcorp.com/
It is the intent of UAAD to post all relevant information pertaining to its and the affiliate coalition partners information on UAAD /UEDC’s, blogs, web-sites, http://www.moveon.com/, news media in order to publicize our efforts and goals.
UAAD ask that each of you join and assist to make this a combined effort to negotiate, and implement a $100 Billion CRA arrangement that will allow African Americans and many others to reach “ECONOMIC PARITY”, long past due.
UAAD/UEDC Hurricane Victims Recovery (HVR) Louisiana Bank Proposal
Attn: CRA Representative
UEDC an affiliate of UNITED AFFIRMATIVE ACTION DEVELOPMENT CORP (UAAD) a 501c3 non-profit propose to create a coalition of small and large banks in the state of Louisiana in order to provide low, moderate-income individual and small businesses to include African Americans the necessary funding in order to recover from KATRINA, and its aftermath.
UAAD will seek a contribution of 3% of each banks CRA commitment to develop the following programs:
Mobil office and trailer units. These vehicles will be used to service the Hurricane Victims and others. Units will be staged at organization sites, churches, colleges and other locations to assist low-moderate income individuals in loan applications, credit repair, business assistance, legal and other mobile assistance. See: http://www.uaadcorp.com/
Promote Coordinate efforts with participating banks to bring financial aid to Hurricane Victims and others. See: http://www.uaadcra.blogspot.com/
Cost per Unit(s): $250,000.00 Mobil RV and Trailer
Operational Cost 6 months: 75,000.00
Total $325,000.00
Units will promote contributing banks logo and contribution.
UAAD is in the process of negotiating a low interest Affinity Credit Card that will benefit other participating banks members. See: http://www.chaseuedcaffinity.blogspot.com/, credit card program.
UAAD anticipate that the majority of the banks in Louisiana will join and participate in this Hurricane Recovery program.
United Affirmative Action Development Corporation, a 501c3 non-profit, would like to meet with your CRA representative. We would like to have a copy of your CRA files and to discuss the following:
A CRA Proposal From UNITED EQUITY DEVELOPMENT CORP (UEDC) To All Banks In The State of Louisiana for Hurricane
KATRINA Recovery.
The suggestions of the COMMUNITY RE-INVESTMENT ACT of 1977 (CRA) is that banks commit at least 10 percent of their assets toward CRA activities. These set asides can be in the form of low interest loans, or contributions.
CRA a part of the civil rights legislation of 1977 was created due to predatory lending, red-lining and discrimination on the part of our nation’s banks.
see: http://www.uaadcorp.com/ http://www.chaseuedcaffinity.blogspot.com/
http://www.chasebankreparation.blogspot.com/
UAAD/UEDC will organize a coalition of banks, community organizations, in order to benefit the Hurricane victims. Such a coalition will benefit the banks, low, moderate-income to include AA. http://www.bankwhileblack.com/
Utilization of funds:
Finance down payments to low-moderate-income for home purchase, (based on programs JPMorganChase Bank has established).
Provide low (no interest loans to hurricane victims)
Provide low interest business loans to small businesses. (Lower to Katrina Victims).
Contributions to HBUC’s, to increase CRA activities and scholarship programs.
Establish Micro-business Centers at all HBUC’s and other locations where needed. Centers will be assisted by Community Organizations and small banks. Small banks will also serve and assist on Community Loan Committees.
In addition to low interest loans, assistance from business centers, our members will also benefit from UAAD/UEDC’s low interest AFFINITY CREDIT CARD being negotiated with JPMorganChase Bank.
Although UAAD/UEDC has in excess of 20 years involvement in CRA, we are aware that the success of accomplishing our goals we will need a commitment from our nation’s banks, FDIC, Office of the Comptroller of the Currency (OCC) and as many community organizations that will join with us in order to assist the KATRINA victims and others. Our nation’s banks have in excess of $4.2 trillion dollars in CRA commitments. If the CRA ACT has any significance or purpose, now is the time for it to be implemented.
See: http://www.uedcinc.com/
We propose a 5 year commitment of 10 percent of assets to be administered by UAAD and other established community organizations. We will be negotiating for UAAD and the coalition will require a reasonable percentage in advance to administer these programs.
See: http://www.uaadcrahbuc.blogspot.com/
We anticipate your in-put and participation.
UEDC will ask small banks to contribute administration assistance in lieu of cash contributions. Such contributions will be in the form of business consultation, serving on community loan committees, teaching CRA and banking in HBUC’s etc. Larger banks will be asked to contribute at least 10 percent of their assets toward these proposed projects for the next 5 years. We believe the FDIC/OCC will consider this proposal to be practical and meet the requirements of the bank(s) obligation to meet prudent banking practices as required under the Community Re-Investment Act of 1977 (CRA).
Memo: Meeting June 30, 2006 Mr. Jack C. Dollins, Jr. re: low-income property finance, Mobile office purchase / CRA agreement with Regions Bank.
This meeting was held with Mr. Jack C. Dollins, Jr.
Senior Vice President
Commercial Lending Division
Regions Bank
1500 18th St
We propose a 5 year commitment of 10 percent of assets to be administered by UAAD and other established community organizations. We will be negotiating for UAAD and the coalition will require a reasonable percentage in advance to administer these programs.
See: http://www.uaadcrahbuc.blogspot.com/
We anticipate your in-put and participation.
UEDC will ask small banks to contribute administration assistance in lieu of cash contributions. Such contributions will be in the form of business consultation, serving on community loan committees, teaching CRA and banking in HBUC’s etc. Larger banks will be asked to contribute at least 10 percent of their assets toward these proposed projects for the next 5 years. We believe the FDIC/OCC will consider this proposal to be practical and meet the requirements of the bank(s) obligation to meet prudent banking practices as required under the Community Re-Investment Act of 1977 (CRA).
Memo: Meeting June 30, 2006 Mr. Jack C. Dollins, Jr. re: low-income property finance, Mobile office purchase / CRA agreement with Regions Bank.
This meeting was held with Mr. Jack C. Dollins, Jr.
Senior Vice President
Commercial Lending Division
Regions Bank
1500 18th St
Monroe, Louisiana 71201
Present at this meeting was Walter L. Ellis myself representing United Affirmative Action Development Corp (UAAD) a 501c3 non-profit, and also United Equity Development Corporation (UEDC) a for profit corporation.
Matters discussed:
Regions Bank financing a Mobile office unit and trailer at a cost of approximately $350,000.00 to promote UAAD/UEDC’s CRA program. (taking banking to the community). Mr. Dollins indicated Regions would entertain financing these units.
A request was made to finance low and low-moderate income properties at 315 Neal St. Ruston, LA. This development is to build income property using tax credit advantages offered by the State of Louisiana. Mr. Dollins stated the bank would most likely participate in this development. Various consultants would be recommended by Mr. Dollins for this development.
A request was made for UAAD to enter into CRA agreement with Regions Bank to promote:
Affinity Credit Cards
Low interest loans to our members, Hurricane Victims in Louisiana in particular.
Mr. Dollins stated he would put me in touch with the bank’s regional CRA representative and the Corporate representative to discuss UAAD’s CRA concerns. He stated that the loan request would be handled by his department.
Business Plan
(DRAFT PROPOSAL)
United Equity Development Corporation (UEDC)
& United Affirmative Action Development Corporation (UAAD)
The plan is to purchase one mobile unit at a price of approximately $350,000
30 ft office trailer (selfcontained) 40,000
Wages:
Driver/Office Manager- 6 monthssalary 25,000
Asst/Office Manager- 6 months salary 20,000
Fuel:
25 gal @ $3.00 a gal per day =
Present at this meeting was Walter L. Ellis myself representing United Affirmative Action Development Corp (UAAD) a 501c3 non-profit, and also United Equity Development Corporation (UEDC) a for profit corporation.
Matters discussed:
Regions Bank financing a Mobile office unit and trailer at a cost of approximately $350,000.00 to promote UAAD/UEDC’s CRA program. (taking banking to the community). Mr. Dollins indicated Regions would entertain financing these units.
A request was made to finance low and low-moderate income properties at 315 Neal St. Ruston, LA. This development is to build income property using tax credit advantages offered by the State of Louisiana. Mr. Dollins stated the bank would most likely participate in this development. Various consultants would be recommended by Mr. Dollins for this development.
A request was made for UAAD to enter into CRA agreement with Regions Bank to promote:
Affinity Credit Cards
Low interest loans to our members, Hurricane Victims in Louisiana in particular.
Mr. Dollins stated he would put me in touch with the bank’s regional CRA representative and the Corporate representative to discuss UAAD’s CRA concerns. He stated that the loan request would be handled by his department.
Business Plan
(DRAFT PROPOSAL)
United Equity Development Corporation (UEDC)
& United Affirmative Action Development Corporation (UAAD)
The plan is to purchase one mobile unit at a price of approximately $350,000
30 ft office trailer (selfcontained) 40,000
Wages:
Driver/Office Manager- 6 monthssalary 25,000
Asst/Office Manager- 6 months salary 20,000
Fuel:
25 gal @ $3.00 a gal per day =
$75.00 a day x 30 = $2250 per
month x 6 = 13,500
Maintenance & Upkeep:
6months 9,000
Communications: 6,000
OfficeSupplies: 1,500
______ Total $75,000
Consultants 150,000
Equipment:
month x 6 = 13,500
Maintenance & Upkeep:
6months 9,000
Communications: 6,000
OfficeSupplies: 1,500
______ Total $75,000
Consultants 150,000
Equipment:
100 Mobil Units 15,000,000
Salaries: 25,000,000
Operation Cost:
1st 6 months – 10 units @ $30,000 3,000,000
Total $43,000,000
Return to Financial Institutions:
I. Bank(s)
a. Members & non-members will patronize the banks
b. Members & non-members nationwide will utilize the banks
c. Members & non-members will participate HUD & Business
II. Verizon – Nationwide participation
III. Diamler Chrysler- Nationwide/world wide- autos, trucks, RVs, etc
Community Trust Bank
Low Income Housing 50,000
Chase Bank
Low Income Housing 250,000
Down Payments – HUD loans @ 4% or less
Lincoln Parish
CTB - $50,000 bank grant
Chase – 5,000,000 bank grant
SBDC – Loans (SBA) – Business development
Walter Ellis BOD / Consultant
Operation Center – Jonesboro, LA
UAAD – 2%
Mobile Unit – UEDC/UAAD
Dr. Simmons – BOD / Consultant - 20% int. in UAAD
Larry
1st Unit Operation: HVR
New Orleans – 9th ward
Assist – HUD –Business Development
Coordinate – Title search, etc – mobil trailer
At least once per week – church group
Truck Stops
Colleges/Universities
Small Business Centers
1,000 students & community personnel
HUD Loans
Business Loans
Credit Repair
Salaries: $20,000 yearly average x 1,000 = $20,000,000
$20 million salaries & benefits
Duties
Supervision:
UEDC
GNLCDC
Operation Hope
ACORN
100 mobil units – 600 sq ft office space
Cost: $150,000 each = $15 million
Income 1st 6 months:
I. Membership – Louisiana 1,000 per week @ $10 per member $26,000
II. Verizon Service $26,000
III. SBDC @ 2% per loan $20,000
IV. Affinity Credit Card $25,000
V. HUD
Verizon – HVR Low/Moderate
Free phones- free Verizon to Verizon – 100 minutes free anytime
Daimeler Chrysler: Vehicles $20,000 and under
No down payments (150.00) no maintenance
Lowe’s – 50% discount
100 students from each HBUCs, ROPE @ reasonable wages
Salaries: 25,000,000
Operation Cost:
1st 6 months – 10 units @ $30,000 3,000,000
Total $43,000,000
Return to Financial Institutions:
I. Bank(s)
a. Members & non-members will patronize the banks
b. Members & non-members nationwide will utilize the banks
c. Members & non-members will participate HUD & Business
II. Verizon – Nationwide participation
III. Diamler Chrysler- Nationwide/world wide- autos, trucks, RVs, etc
Community Trust Bank
Low Income Housing 50,000
Chase Bank
Low Income Housing 250,000
Down Payments – HUD loans @ 4% or less
Lincoln Parish
CTB - $50,000 bank grant
Chase – 5,000,000 bank grant
SBDC – Loans (SBA) – Business development
Walter Ellis BOD / Consultant
Operation Center – Jonesboro, LA
UAAD – 2%
Mobile Unit – UEDC/UAAD
Dr. Simmons – BOD / Consultant - 20% int. in UAAD
Larry
1st Unit Operation: HVR
New Orleans – 9th ward
Assist – HUD –Business Development
Coordinate – Title search, etc – mobil trailer
At least once per week – church group
Truck Stops
Colleges/Universities
Small Business Centers
1,000 students & community personnel
HUD Loans
Business Loans
Credit Repair
Salaries: $20,000 yearly average x 1,000 = $20,000,000
$20 million salaries & benefits
Duties
Supervision:
UEDC
GNLCDC
Operation Hope
ACORN
100 mobil units – 600 sq ft office space
Cost: $150,000 each = $15 million
Income 1st 6 months:
I. Membership – Louisiana 1,000 per week @ $10 per member $26,000
II. Verizon Service $26,000
III. SBDC @ 2% per loan $20,000
IV. Affinity Credit Card $25,000
V. HUD
Verizon – HVR Low/Moderate
Free phones- free Verizon to Verizon – 100 minutes free anytime
Daimeler Chrysler: Vehicles $20,000 and under
No down payments (150.00) no maintenance
Lowe’s – 50% discount
100 students from each HBUCs, ROPE @ reasonable wages
# posted by walter @ 1:35 PM 
