A Native Hawaiian housing advocacy group is suing Bank of American under the Racketeer Influenced and Corrupt Organizations Act and the Ku Klux Klan Act of 1871, reports Maui News Now.
Three decades ago, the feds approved the sale of Hawaii-based Liberty Bank to Bank of America on the condition B of A grant $150 million in home loans on Hawaiian Home Lands in four years.
The nonprofit Na Po’e Kokua alleges to date Bank of America has only issued about $16 million in loans.
According to Hawaii Public Radio, the Maui City Council voted to pursue legal action against the bank for the same reasons two years ago, but it never followed through on that commitment. The council now says now is not the time to sue.
Michael Molina who sits on the County Council expressed frustration.
“It just boggles the mind as to why we’ve come to this point,” Molina said Tuesday. “It seemed like we had an opportunity. But for whatever reason now, you know, the answer seems to be no and not pursue litigation. I’m just hoping that, you know, this administration is committed to helping our people of color and take on this giant — Bank of America.”
The bank contends that while it missed the 1998 deadline, it did meet its goal.
“While we respect the issues faced by the native Hawaiian community, the Bank fulfilled its pledge made in 1994 and this was confirmed by the State in 2007,” the bank said to The Maui News on Wednesday evening.
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