Click here to Search This Site ICP has published a (double) book about the campaign-relevant topics of subprime lending, and corporate fraud - click here for sample chapters, here for fast ordering and delivery, and here for other ordering information.
Inner City Press / Community on the Move and the Inner City Public Interest Law Center (together,"ICP") are committed to the enforcement of the Community Reinvestment Act, antitrust laws, open government laws, and the public interest / convenience and needs of the community standards. We monitor the applications that the bank regulatory agencies are considering, and, where appropriate, submit comments. ICP's Fair Finance Watch works on these issues globally, including through its Human Rights Enforcement project.
As noted elsewhere on this site, the only enforcement of the Community Reinvestment Act is in connection with banks merger or expansion applications. In an ideal government the regulators would do their job, just because it is their job. It has been ICP's experience, however, that unless CRA and other consumer issues are raised to the regulators, and in detail, the regulators hardly look at these issues. That is why ICP practices, and encourages, a relatively active program of commenting and public participation.
Some of our most recent campaign are summarized on our Bank Beat page, and in our CRA Reporter (both are updated at least weekly). In 2005, ICP is engaged in a nationwide campaign regarding banks' funding of high-cost fringe financiers. See, e.g., the 2004 announcement of SunTrust, in response to ICP's comments, that it will cease such lending; ICP is also focused on JPM Chase, Wachovia, Bank of America,. Wells Fargo and others -- including, it goes without saying, Citigroup and HSBC. In 2003, ICP/FFW revived its AIG Watch -- regarding Japan. In late April 2003, ICP began a GE Watch, of GE Capital, GE Consumer Finance and General Electric. From November 2002 onwards, ICP has campagined against the combination of HSBC and Household International. From June 3, 2002, onwards, ICP filed evidence against Citigroup's application to acquire Golden State Bancorp. On October 15, 2001, ICP filed comments on Washington Mutual's application to acquire Dime Bancorp and Dime Savings Bank. Following September 11, 2001, we began a Finance Watch on issues of money laundering, and bank accountability generally. ICP on July 24, 2000 began an ongoing Citigroup Accountability Project. Beginning November 6, 2000, see our J.P. Morgan Chase Watch. Other ongoing pages are our Wells Fargo Watch page, our U.S. Bancorp Watch page, our Fleet Watch page, our Wachovia Watch page, and, more globally (that is, beyond the U.S.), our Deutsche Bank Watch page, our HSBC Watch page, our Mizuho Watch page, our Royal Bank of Canada Watch, etc....
In terms of international human rights, in 2005, ICP and FFW are pursuing justice on PNC and Riggs Bank, its money laundering for Augusto Pinochet and the dictotor of Equatorial Guinea. Also, Deutsche Bank's dealings with Turkmenistan are also being spotlighted. To get involved, contact us.
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[Predatory lending comes full circle: Conseco's acquisition of Green Tree resulted in bankruptcy.... Then Conseco sought to sell the old Green Tree Capital Bank, renamed Mill Creek Bank, to Geneeral Electric -- which ICP challenged in late April 2003, starting a GE Watch...].
On HSBC - Household, on November 19, December 2, 9 and 16, 2002, ICP submitted comments to the OCC, NYBD and FRB. On Feb. 23, ICP's Fair Finance Watch took the campaign to Africa, see ICP's Global Inner Cities Report of Feb. 23, 2003; click here for more...
For or with more information, contact us.
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