Elmont resident, state coalition fighting ‘bad’ banking

Mimi Pierre-Johnson, of Elmont, is known by many community residents for running for the State Assembly’s 21st District in the 2010 election. The seat was previously held by Assemblyman Tom Alfano, and Pierre-Johnson lost in the primary race to Pat Nicolosi, who was defeated by Assemblyman Ed Ra.

Pierre-Johnson, 50, was born in Haiti and immigrated in New York at the age of 7. In 2009, she became a U.S. citizen.

Although many know her for being politically active, it’s a little known fact that Pierre-Johnson has long been battling what she calls "bad-banking policies" by JPMorgan Chase, along with New York Communities for Change, a coalition focused on fighting for social and economic justice for low and moderate-income families throughout New York.

The group claims that Chase has been doing too little to alleviate the nation’s mortgage crisis — despite receiving a large bailout by the federal government in 2009 — and has joined with unions to lobby towns and cities to close accounts with the bank.

Pierre-Johnson explained that Chase has refused to modify mortgages for many residents who have suffered a financial loss due to the economy, forcing them to file for foreclosure. Communities for Change plans to continue lobbying against Chase unless the bank begins to write down mortgages, she added.

In May, Village of Hempstead Mayor Wayne Hall announced that the village would remove its money from JP Morgan Chase to protest the bank’s record of foreclosing on minority and low-income families. “There’s a lot of power in the minority communities,” Hall said in a recent interview. “If we all stick together and start withdrawing our money out of these big banks, and start putting it into more favorable banks, Chase will review its procedures for modifications.”

The Village of Hempstead removed more than $12.5 million from Chase.