African Activist Archive

The press release says, on February 24, the New York chapter of the Committee to Oppose Bank Loans to South Africa (COBLSA), along with numerous other groups, including the National Council of Churches, the United Methodist Office for the U.N. and several New York unions, will hold a public forum on the role of U.S. banks in domestic and international affairs. "Runaway Banks - The Misuse of Our Money at Home and Abroad" will bring examine how the U.S. banking system channels money out of our communities and into repressive regimes such as South Africa. A study by New York COBLSA on the home mortgage loan practices of five commercial New York banks will be released at the forum; the report shows that for every $1000 deposited in Bankers Trust, Chase Manhattan, Chemical, Citibank, or Manufacturers Hanover Trust by Harlem residents, that community receives $4.61 in home mortgage loans. The press release mentions Beate Klein, Prexy Nesbitt, Gil Noble of the ABC television program "Like It Is," U.S. Representative Stephen Solarz, N.Y. State Assemblyman Al Vann, the New York State Black and Puerto Rican Legislative Caucus, the House Subcommittee on Africa, low-income neighborhoods, U.S. corporations, and Union Theological Seminary student Gene Jones.

African Activist Archive

[On Saturday, February 24, the New York chapter of the national Committee to Oppose Banks Loans to South Africa (COBLSA)]

PRESS RELEASE

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Rights Management