March 11, 2006
UAAD’s interpretation of Chase Bank’s Reparation Initiative “SMART START”
JPMorganChase in 2005 made a commitment to the Louisiana Community. This commitment according to Chase officials was made due to this Bank's participation in the slave trade where they used slaves as collateral. Upon asking how the funds provided to the bank’s reparation are being distributed it was stated this information could be obtained on Chase’s web site. These officials were not sure how to get to the proper page. When asked how a high school graduate could obtain the necessary application to apply for this scholarship, it was indicated that they would have to apply at the various Universities in the state of Louisiana.
The following is JPMorganChase Bank’s $5 million dollar reparation commitment:
After speaking to Chase officials this date United Affirmative Action Development Corp (UAAD) officials met with officials in Grambling State University’s (GSU) Finance Department and could find no one familiar with this program. See http://uaadcorp.com.
Chase Bank’s officials were contacted in Baton Rouge who administers this program. This official indicated that the program had been in place prior to Katrina, and her supervisors were trying to devise a plan to use these funds for the Katrina victims and had not yet notified her of how the funds were going to be dispersed.
UAAD filed several complaints regarding matters where Chase Bank fails to meet the needs of the African American community. Under 12CFR25.43 such complaints should be entered in each and every branch in the state of Louisiana where Chase Bank operates. After speaking to Mr. David Lewis the Community Affairs official for the Office of the Comptroller of the Currency, UAAD has asked that this and other complaints be entered in the Chase Bank’s branches public file.
UAAD’s interpretation of Chase Bank’s Reparation Initiative “SMART START”
JPMorganChase in 2005 made a commitment to the Louisiana Community. This commitment according to Chase officials was made due to this Bank's participation in the slave trade where they used slaves as collateral. Upon asking how the funds provided to the bank’s reparation are being distributed it was stated this information could be obtained on Chase’s web site. These officials were not sure how to get to the proper page. When asked how a high school graduate could obtain the necessary application to apply for this scholarship, it was indicated that they would have to apply at the various Universities in the state of Louisiana.
The following is JPMorganChase Bank’s $5 million dollar reparation commitment:
After speaking to Chase officials this date United Affirmative Action Development Corp (UAAD) officials met with officials in Grambling State University’s (GSU) Finance Department and could find no one familiar with this program. See http://uaadcorp.com.
Chase Bank’s officials were contacted in Baton Rouge who administers this program. This official indicated that the program had been in place prior to Katrina, and her supervisors were trying to devise a plan to use these funds for the Katrina victims and had not yet notified her of how the funds were going to be dispersed.
UAAD filed several complaints regarding matters where Chase Bank fails to meet the needs of the African American community. Under 12CFR25.43 such complaints should be entered in each and every branch in the state of Louisiana where Chase Bank operates. After speaking to Mr. David Lewis the Community Affairs official for the Office of the Comptroller of the Currency, UAAD has asked that this and other complaints be entered in the Chase Bank’s branches public file.
posted by walter | 8:59 PM
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