A coalition led by prominent Chicago activist Ja'Mal Green held a small protest with a powerful message Tuesday, warning that such "pop-up protests" will continue until their cries are heard.
The group called out Chase Bank and President Donald Trump, saying disproportionate lending and changes to the Community Reinvestment Act have "horribly impacted communities of color."
They allege lenders in Chicago have invested more in a single white neighborhood than all the black neighborhoods combined. The claim was first published by WBEZ on June 3, which reported Chase handed out $7.5 billion in home loans over a six-year period, but only 1.9% went to Chicago's black neighborhoods.
On Tuesday, a handful of demonstrators appeared in front of a Chase bank at 35th and King Drive, which appeared to have closed during the protest.
"Today we're saying to all those that are customers or depositors of Chase that we are fighting back and the time is now," Green said Monday as he announced plans for the protests.
The coalition warned that "protests will continue unless Chase gives $1 billion in grants and $10 billion in loans."
"We must now act for a form of reparations to make good," Green said.
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In a statement, Chase detailed the measures the bank says it has taken in response to the claims.
“Every Chicagoan should have equal access to the opportunity of homeownership, and we all have work to do for this to happen," Chase said in its statement. "That is why we’ve been working with community partners and local government leaders to create and promote sustainable homeownership opportunities by doubling our homebuyer grant, specifically in the South and West sides of the city, expanding access to our low down payment mortgage product DreaMaker and investing in affordable housing in Chicago.”
The coalition also wants Congress to "act now and retain the existing rules of the Community Reinvestment Act."
