CRA-UAAD - New Orleans

Monday, September 11, 2006

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.

Banking On Equal Opportunity
By Hugh B. Price
National Urban League
Most people who live outside of Washington D.C. 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.

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:

We contemplate adding and deleting from this suggested list, depending on response from the above list organizations. We would like a reply as to your interest in joining this coalition, and would appreciate a reply within 5 days.

UAAD will meet, with Whitney Bank’s CRA Community Affairs Officer, Ms. Sanada Henderson on Tuesday September 13, 2006 at 2PM located 610 Poydras St., New Orleans. A meeting also is arranged to meet with AM/South Bank’s CRA representative, Mr. Kevin Williams Friday September 15th., time and place to be announced. These meetings are being arranged in order to seek these banks CRA activity reports for the past two years, in order that our coalition can assist these banks in improving their CRA activities.

UAAD is asking, the various organizations that intend to participate, to contact UAAD before arranging CRA meetings with bank officials. UAAD is arranging a relationship with SCLC National’s director, Dr. Steele, and Rev. Norwood Thompson to help lead our efforts in the City of New Orleans. UAAD is seeking the leadership of SCLC National and Mahammad Mosque #46 to coordinated UAAD’s efforts on the West Bank and other areas throughout the State of Louisiana.

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,, news media in order to publicize our efforts and goals.

I pray and 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.


LIBERTY BANK / ONE UNITED BANK and Other Financial Institutions will participate in the following manner:
They will participate in the formulation of “COMMUNITY LOAN COMMITTEES.
Committees will consist of these banks and UEDC / KVR Assoc. Members.
Funding, contributions, financial consultation will be contracted to these banks.
Participating banks CRA, Community Affairs Officers will be asked to serve on the “COMMUNITY LOAN COMMITTEES”
For additional information see:, and related links.

Utilization, Mobil units
The fleet of Mobil units will provide community service for financial and other needs. These units will be under the direct supervision of the Association. Their main purpose is to take banking and other needs to the low-moderate income Community, who have been denied such services now and prior to KATRINA.
Walter L. Ellis, CEO UAAD / UEDC 866 276-2294 toll free / cell 951 452-9160

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: /
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. /

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:

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.
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).

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

Chase and other banks holding back CRA and other commitments
Have contributed to poverty in New Orleans and other areas

While lobbying Congress and the Office of the Comptroller of the Currency (OCC) regarding JP Morgan/Chase Bank’s non-compliance of the Community Re-Investment Act of 1977 (CRA) a Civil Rights Legislation, the following is my report: The purpose of lobbying was to present proposals that United Affirmative Action Development Corp (UAAD) a 501c3 non-profit community organization, wished to express how funds in excess of $800 billion dollars that Chase Bank has committed towards fulfilling it’s obligation under CRA, can assist the Katrina victims. See: It was discovered in talking to the Republican side of the House, that if proposals to strengthen this legislation was proposed, it is likely that they will kill the CRA legislation. Therefore they believe that it will do more good if it is left intact, with little or no enforcement power. Some Democrats take the same position. I was told also that UAAD’s complaint against Chase Bank would be better served if all banks that were not in compliance with CRA were a part of this complaint. I indicated that due to Chase Bank being the largest financial institution in the State of Louisiana, and had what we believe to be a very poor rating in serving the African American Community. See: