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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (578924)7/31/2010 10:45:01 PM
From: longnshort  Read Replies (1) of 1573936
 
The issue with Ms. Waters first came to light in early 2009 when The Wall Street Journal and the New York Times published stories noting that OneUnited Bank had received $12 million in federal funding in the fall of 2008 under the government's Troubled Asset Relief Program after Ms. Waters helped arrange a meeting between senior bank officials and the Treasury Department.

At one point, Ms. Waters and her husband were large shareholders in the bank, owning a total of somewhere between $500,000 and $1 million in stock, according to Ms. Waters' annual financial-disclosure statement. Ms. Waters' husband at one point was a OneUnited Bank director.

Ms. Waters later sold her shares.

In 2008, when Ms. Waters sought to help the bank, her husband owned stock in the bank worth between $100,000 and $250,000, according to her disclosure report. He had stepped down as a director the previous spring.

Ms. Waters said she did nothing improper and that her efforts were intended to aid minority-owned banks.

"I have been an outspoken advocate for minority communities and businesses in California and nationally for decades," Ms. Waters said in a statement at the time of the news stories. "These articles only revealed one thing: I am indeed an advocate for minority banks."

A spokesman for Ms. Waters didn't return requests for comment.

Write to Brody Mullins at brody.mullins@wsj.com
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