Attention

The opinions expressed by columnists are their own and do not represent our advertisers

Wednesday, April 16, 2008

Who Ya Gonna Call? Banking Regulators!

People are already commenting, what's the use of calling any of the local "powers that be" about the shafting the Camden neighborhood is about to get over 1004-1006 Camden by SunTrust's V.P. Rod Flowers and his partners in Captains Investments, Mitchell David and Tim Jones.

I still say call, because if they DON'T hear from you, then they can OFFICIALLY say they didn't hear that anyone was unhappy about this. Despite the fact, of course, that the neighbors packed the house the last couple of times this came up for consideration. You know, just like the Westsiders packed the city council house Monday night, but Westside Manor was pulled from the agenda. Funny how things keep getting pulled from agendas when the house is going to be packed. Then these things find their ways back onto agendas on short notice so citizens can't respond.

But here's another place you can call: the BANKING REGULATORS of SunTrust Bank. They are the Federal Reserve Bank of Atlanta. And they'll be happy to look into your inquiry as to whether or not it's proper for a bank officer to be involved in investment activities that are not good for a neighborhood. Go to this link:

http://federalreserveconsumerhelp.gov/complaintinfo.cfm?info=1

Read the instructions, then click the link to fill out a complaint. You can just ask:

"Is it appropriate for a bank officer of SunTrust Bank -- in this case Rod Flowers, a vice president and branch manager in the mortgage division in Salisbury, MD -- to be involved in behaviors that damage neighborhoods zoned for single-family use. Take 1004 Camden Ave., Salisbury, MD 21801, and Captain Investments, for example, in which Mr. Flowers is a partner. Please investigate the propriety of these circumstances. Thank you."

Or give them whatever details you like! It's my understanding that banking regulators take stuff like this seriously. The way I look at it is, what have you got to lose if you do but a few minutes of time? If you don't, what you've got to lose is your neighborhoods.

For those of you who like the old-fashioned way, the phone and address are:

Federal Reserve
Bank of Atlanta

1000 Peachtree Street NE
Atlanta, GA 30309
(404) 498-8500

Like I said, "Who Ya Gonna Call?"

10 comments:

Anonymous said...

I am not the brightest crayon but I have a thought. I agree that putting a multiunit there is stupid and that people from the area don't want it and I understand why. Why is it unethical I am wondering though. As a private citizen, I'm thinking Rod Flowers can choose to spend his money or credit how he chooses with legal limits. So I think notifing the "Big Guys" is probably a waste of time, However, wouldn't the problem lie more with whomever has given the project the go ahead although there are measures in place to prevent this type of housing from popping up? I may not have understood the entire situation, but thus far this is what I come up with.

Anonymous said...

I did, I filed a complaint, after filing the complaint online, the system said I'll have a written response to my complaint within 15 business days....I'll be sure to pass on the information that it states.

Anonymous said...

Mr. Crayon,

I wondered the same thing, but a friend of mine who was in banking a long time said yes, it may be a problem. Banks have all these regulations about positive reinvestment in the community and stuff like that. And anything that smells like a conflict gets looked into. Not saying the guy did anything illegal, but there are other standards that employers can hold their employees to when they "sign on for the job."

Like teachers and "moral turpitude." Doesn't have to be illegal, just can be misconduct of a nature that calls into question the teacher being fit to do their job. And I can see a problem with a banking officer pledging mortgage integrity and positive community influence on one hand, but being a negative influence on another.

I did some look ups on SunTrust. They had some bad press about being discriminatory in the south a few years back. Banks work hard to protect their reputations, so this is worth looking into.

Thanks for sharing, Joe.

Anonymous said...

Dear Joe,

My biggest question is why a zoning change is even being considered. I am baffled by the increasing number of rental properties that exist in Salisbury. Do we really need any more?
We currently live in a single family community that is infested with rental properties (approximately 40%) and it certainly has negatively impacted the neighborhood. My opinion is fight as hard as you can to maintain your property value! The only one who will benefit from a multi-unit structure is Rod Flowers/Captain Investments and from what I understand he has enough money.
I would also like to say that cash speaks louder than words in Salisbury. I have seen enough “unethical development activities" to last a lifetime in my years of living here. Who is getting their pockets “greased” in this deal?

Sincerely,

Sympathetic Homeowner

Anonymous said...

I sent one too. It was quick and easy. Kudos to the regulator for good public access. Who regulates Bank of Delmarva?

Anonymous said...

I don't know Flowers, but this line of personal attack is exactly what most people complain about in Salisbury / Wicomico politics. This is exactly the kind of thing this blog site finds distasteful when it comes from the mayor or others in govt.

Don't fall into the sewer you condemn.

Anonymous said...

Do you really think the people on planing and zoning have a CLUE.. Friends This is the Real Truth. Equal Justice under the law... yea right... but in this case and every case before the planing and zoning , whoever has the MONEY is a lot more equal... Just look at the decisions these people have made in the last 6 months.. Look at what they are allowing to happen to what used to be a classy place. I say lets dissolve this bunch of NO GOOD RUBBER STAMP GROUP. They are a Sorry bunch of CLASSLESS people

BossHogg said...

If you want to file a complaint that they HAVE to respond to, try hitting a little closer to home:

http://www.dllr.state.md.us/finance/frcomplaints.htm

Commissioner of Financial Regulation

File a Complaint


A Maryland resident may file a complaint simply by writing a letter. Send your letter to:

Commissioner of Financial Regulation
Attention Complaint Unit
500 North Calvert Street, Suite 402
Baltimore, Maryland 21202

Attach copies of any supporting documents to assist in the complaint investigation. Typically, complaints are resolved within 45 days.

To ensure your concerns are fully addressed:

Limit your complaint to one page.
State only the facts.

Include your account number, the respondent or your own name and address and your daytime phone number.

Indicate an acceptable resolution for your complaint.

Anonymous said...

It is just like everything else that goes on in Salisbury. The powers that be hold fast to the
"Golden Rule" you know the one
it goes like something like this
"He that has the gold rules". Yep
same ole same ole, especially around these here parts.

Anonymous said...

The idea that Rod and his partners are being attacked for this project seems odd to me. I can certainly understand if a project is unpopular, than please let your feeling be known. But to say that this is unethical is a big stretch. If there is a problem with an item being removed from the council's agenda too often or it being rescheduled on short notice, then change the requirements. If there is problem with a multi-unit home in an area, then change the law. Everybody has the right to earn money within the law. I personally know an appraiser who has valued many of Captain Investment properties and said that the business has renovated many homes and thus improved areas. I am not trying to shield Rod and the company from criticism if deserved, but aren't there bigger fish to fry? Is this the most troubling issue the community faces? Hardly.