NEDAP Resources for Action

NEDAP's Resources for Action shines a spotlight on corporate activities and trends in the financial services industry. It also presents legislative and regulatory issues relevant to community reinvestment and consumer protection, while serving as a resource for citizen action.  Through Resources for Action, NEDAP helps neighborhood stakeholders challenge practices that are harmful to their communities, and hold accountable corporate and governmental actors in the financial services industry.

Action Alerts and Updates Merger Watch

How-To and Frequently Asked Questions

NEW! 8/08:  COMMENTS NEEDED ON PROPOSED REFORMS TO REGULATION OF CREDIT CARDS AND OVERDRAFT PROTECTION.  See NEDAP's Financial Justice Alert for summary of proposed regulation and action needed.  Public comments are due by August 4, 2008!  To submit comments to the Federal Reserve Board, click here.

3/08: Bank of America to purchase Countrywide Financial - public comments are due by April 29, 2008! See here for more information about this potential merger.

11/28/07: Hold Wall Street Accountable! Join NEDAP, the Northwest Bronx Community and Clergy Coalition, and other members of the NYC Anti-Predatory Lending Task Force in a rally and march on Wall Street - calling on the biggest investment firms that fueled the subprime crisis to donate their end-of-year bonuses to instead help those facing foreclosure. Check here for more info.

7/07: Stop Bank of America from growing bigger!  As BofA attempts to purchase Dutch-based LaSalle Bank, many groups have raised concerns that the merger would push BofA's asset size over the legal limits.  Visit the California Reinvestment Coalition's website for more info and sample comment letters - due by July 3.

5/07: Federal regulatory agencies request public comment on a Joint Subprime Mortgage Lending Statement.  Visit the FDIC webpage to view the text of the statement and for more info. Read NEDAP's comment letter, sent on May 7, 2007.  The comment period is now closed.

1/07: Sign on to a letter to JPMorgan Chase and Santa Barbara Bank and Trust, calling on them to get out of the paystub and holiday RALs business.  See the letter and background info on our campaigns page.

Merger Watch

Mergers and acquisitions affecting NYC communities:

Pending

• Bank of America to purchase Countrywide Financial
• ABN AMRO to merge with Barclays, sell LaSalle Bank to Bank of America
• JPMorgan Chase and Bank of America to buy Sallie Mae
• Lehman Brothers Bank to purchase Capital Crossing

Completed

• Bank of NY Mellon Corp merges with Mellon Financial Corp - approved, 6/07
• Walmart applies for Utah bank charter - withdrawn, 2/07
• Citigroup purchases ABN AMRO Mortgage Group - approved, 2/07
• Capital One acquires North Fork Bank - approved, 12/06
• JPMorgan Chase acquires assets of the Bank of New York - approved, 9/06

• M&T Bank acquires Citibank branches in upstate NY - approved, 7/06

The NEDAP How-To page is intended to help New York groups think through issues they are facing in their communities, and provide resources and tools for action.  Email us if you have a question to add, or would like to request technical assistance for your community group; you can also visit the NEDAP Training and Technical Assistance page for more information. 

Click here for explanations to the following frequently asked questions:

1. How do I find bank branch information for my neighborhood?

2. How can I tell who regulates the banks in my community?

3. Where can I go to see if a mortgage lender or broker is licensed, or file a complaint?

4. Where can I get information on the income and race of people in my neighborhood?

5. What is HMDA? What is CRA?

6. What is "federal preemption"? How does it affect communities?

7. Who are my elected representatives?  What are they up to?

8. Does NEDAP make maps for everyone? How can I make my own maps?

9. Where does NEDAP get its data from? What are good research resources?