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To: stephenjohnbanker; CutePuppy; TommyDale; sickoflibs; writer33; marstegreg; PGalt; GOPJ; ...
OneUnited is a Boston-based bank with branches in Massachusetts, Florida and California. The bank has been criticized by regulators in Florida for having an unusually poor record of lending to people in low-income neighborhoods.

OneUnited Bank is now at the center of a congressional ethics investigation involving Rep. Maxine Waters (D-Cali). She is accused of facilitating $12 million in federal bailout funds while her husband was affiliated with the bank, that the bank has failed to pay back.

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OneUnited Bank paid for a luxurious lifestyle for its chairman and CEO Kevin Cohee.........including a Porsche and a house on Pacific Coast Highway in Santa Monica......... despite Cohee's having a record of arrests and allegations of drug use.

Cohee's high-flying perks came despite his having been charged in 2007 with felonies after his arrest by the Santa Monica Police on suspicion of possessing cocaine, crack cocaine and concentrated cannabis, according to the Los Angeles County district attorney's office. The case was dismissed the next year after Cohee completed a drug diversion program.

Cohee was also arrested in 2007 after a woman filed a complaint alleging that Cohee had forcibly sodomized her, according to public records. Prosecutors did not pursue the assault charge. The Boston Herald quoted Cohee as saying that the arrest was "utter and complete nonsense that went nowhere."

Kevin Cohee, Chairman & CEO of OneUnited Bank

14 posted on 08/12/2010 7:01:38 AM PDT by Liz
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To: Liz; All

” OneUnited Bank paid for a luxurious lifestyle for its chairman and CEO Kevin Cohee.........including a Porsche and a house on Pacific Coast Highway in Santa Monica “

For those who don’t know, there are only about a dozen homes here, and they rent for about 20,000 per month ;-)


16 posted on 08/12/2010 8:12:38 AM PDT by stephenjohnbanker (.Go troops! " Vote out RINOS. They screw you EVERY time" Jim Robinson)
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To: Liz

Liz, pointing out that there was such abuse as this by a ‘minority bank’ is just “racist”! (/sarcasm)

I wonder how much of this information is actually going to be reported?


23 posted on 08/12/2010 9:29:08 AM PDT by TommyDale (Independent - I already left the GOP because they were too liberal)
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To: Liz; All
OneUnited Bank
100 Franklin St.
Boston MA 02110

2009 Employees: 130
2009 Revenues: $41M

The largest African-American owned and run bank in the US, OneUnited Bank was formed by the 2001 merger of Boston Bank of Commerce, Founders National Bank of Los Angeles, and People's National Bank of Commerce in Miami. After acquisition of Los Angeles' Family Savings Bank in 2002, OneUnited Bank operates about 10 offices that serve urban communities in California, Massachusetts, and Florida.

Since 2003, the bank has financed more than $500 million in loans, with about half that amount devoted to the development of low- to moderate-income communities. Loans for multi-family residential properties account for almost two-thirds of the bank's portfolio.

OneUnited Bank opened the first black-owned Internet bank in the country in 2006, to expand its presence beyond the brick and mortar branches in communities in which it operates.

Board Members

Title Name Add'l Info
Chairman and CEO  Kevin Cohee JD, Harvard Law School
MBA, University of Wisconsin
Member Alpha Phi Alpha Fraternity Inc.
Board Member, Boston Bank Of Commerce
fmr. with Salomon Bros, Inc.
President and Director Teri Williams MBA., Harvard University
Board Member, Greater Deliverance Ministries Inc.
Board Member, The First Black-Owned Internet Bank
fmr. with Blacks in Government
Director  J. Alan Rosen MBA, NYU School of Business.
Chairman and Treasurer, Century City Chamber of Commerce
Treasurer, Beyond Shelter
Board Member, Foundation for the Preservation of Film Music
Director  George A. Russell Jr. MBA, NYU Stern School of Business
Board of Advisors, Boston University
State Street Corp.
fmr. with City of Boston
fmr. with Urban League
stepped out from OneUnited board - March 2010
Director Richard D. Carr D.D.S.
Board Member, Urban League
Boston University School of Dental Medicine
fmr. with Roxbury Medical and Dental Group
Director  John L. Sims
Director  Walter B. Prince
Director  Melvin B. Miller
Director  Leander J. Foley

State Street official left OneUnited. Resigned from board despite firm’s stake - BG, 2010 August 13, by Beth Healy


26 posted on 08/13/2010 2:37:51 AM PDT by CutePuppy (If you don't ask the right questions you may not get the right answers)
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