A charter member of the far-left Democrat “Squad” is demanding an update from five of the nation’s largest banks that pledged billions of dollars for racial equity programs in the aftermath of the 2020 death of George Floyd.
On Wednesday, Rep. Ayanna Pressley (D-Mass.) sent letters to the CEOs of Bank of America, Citibank, JPMorgan Chase, U.S. Bank, and Wells Fargo requesting a progress report on the shakedown from when they were pressured into making promises under duress at a time when violent race riots were raging and cities were on fire from coast to coast.
“As the CEO of one of the five largest banks in the nation, you play a key role in determining which individuals and communities have access to economic opportunity. Your prior statements and pledge are welcome steps, but there needs to be greater transparency on the actions Bank of America has taken,” Pressley wrote in one of the letters that were addressed to each of the banks’ CEOs.
“As one of the five largest banks in the United States, it is critical that your financial power is used to rectify the wrongdoing and heal the very communities harmed by the historical and contemporary role that institutions such as yours have played and continue to play in perpetuating racial inequities. Policies of systemic racism and discrimination have stifled opportunities for black communities and enabled a vicious cycle of relentless poverty,” the letter reads.
“In 2020, when the CEOs of @jpmorgan, @BankofAmerica, @WellsFargo, @usbank & @Citibank went on TV, issued press releases, & committed to racial equity — we took note,” she wrote on Twitter/X along with a link to an NBC News report on her demands. “Now, we want to see the receipts.”
In 2020, when the CEOs of @jpmorgan, @BankofAmerica, @WellsFargo, @usbank & @Citibank went on TV, issued press releases, & committed to racial equity — we took note.
Now, we want to see the receipts. https://t.co/QNW3fE4nRc
— Ayanna Pressley (@AyannaPressley) August 23, 2023
In her letter, the race-obsessed congresswoman commanded each of the banks to provide a “comprehensive financial audit report,” giving them an October, 23 deadline to comply.
“Please respond with clear and detailed descriptions describing the progress on your racial equity commitments, including amounts disbursed categorized by bank function, demographic and geographic data of recipients, institutional policy changes to financial services, and future plans related to your pledge,” Pressley wrote. “Additionally, please describe what further steps your bank is taking to address the racial disparities relating to access to credit, home loans, business loans, and physical bank branches as referenced above.”
The summer of 2020 was a terrifying time in the nation’s history when left-wing thugs took to the streets to loot and burn as they violently avenged the demise of the career criminal and drug addict Floyd who was sent to his great reward after resisting arrest during an ill-fated encounter with Minneapolis Police. The riots, which received the support of Democrat politicians and their media toadies, had corporations groveling at the feet of Black Lives Matter and shelling out what amounted to protection money.
Pressley has put the banks on notice that she intends to collect the debt.
“Whether you’re talking about redlining or denying credit for black homebuyers and entrepreneurs, or closing brick-and-mortar banks in black communities, black folks have historically been denied opportunities to grow wealth, to achieve financial prosperity,” the “Squad” member told NBC News. “The harm was very precise. The work of restorative justice, of racial justice, of justice for black Americans, has to be just as precise.”
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